New Jersey Tax Break for Atlantic City Casinos Voided: Court (1)

A 2021 amendment to cut property taxes for Atlantic City casinos by millions of dollars a year is unconstitutional, a New Jersey court held.

The amendment cut casinos’ payment in lieu of property tax obligations for 2022-2026 to address concerns about pandemic-related casino losses. But the New Jersey Superior Court Atlantic County Law Division found the casinos more than made up for the losses through internet gambling and sports betting.

“Although the record reflects casino revenue loss in 2020 due to brick-and-mortar closures at the early stages of the pandemic, the record also demonstrates that Atlantic City casinos experienced exponential ...