It is likely that state legislation will extend the program that determines how property taxes are assessed to casinos in Atlantic City.
The payment-in-lieu-of-taxes program requires the casinos to pay a tax based on their combined gaming revenue from the previous year, rather than sending each one a tax bill based on the resort's assessed value. Depending on how much of the gross gaming revenue each property makes, each one pays its fair share.
The payment-in-lieu-of-taxes program requires the casinos to pay a tax based on their combined gaming revenue from the previous year, rather than sending each one a tax bill based on the resort's assessed value. Depending on how much of the gross gaming revenue each property makes, each one pays its fair share.
