Apartment complex will not have to pay taxes until 2050
The Standard, an off-campus housing high-rise set to be built in downtown New Brunswick, will allegedly not have to pay taxes until 2050, according to a tweet by New Brunswick Today’s editor Charlie Kratovil.
“The owner of ‘The Standard’ probably won't pay property taxes on this monstrosity until 2050 thanks to New Brunswick's City Council, which approved a 30-year tax break over our objections,” according to the tweet.
The Standard will offer Rutgers University students fully furnished apartments with amenities such as a fitness center, study spaces and other accommodations, according to its website.
The new apartment complex will be located across from the State Theatre New Jersey. It is leasing for fall 2020, according to the website.
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