Nine on the Hudson is part of a vibrant community that is surrounded by skyscrapers, chic shops, eclectic dining and a lifestyle that is marked not only by a dynamic blend of historic and modern architecture along the Hudson River, but also by our commitment to offer residents a luxurious living experience and an environment that promises the feeling that they’re always on vacation.
Nine on the Hudson is pleased to announce that it is part of a 20-year tax abatement program with the initial 10-year period fixed with increases over the second 10-year period. Currently, the effective municipal tax rate is approximately 2.66 percent, or annual taxes of $2,660 per $100,000 of the sales price. Annual real estate taxes would be $13,300 on a $500,000 home and $26,600 on a $1,000,000 home.
For the initial 10-year tax abatement period, payments in lieu of taxes (PILOT) would be approximately 1.05 percent of the sales price, or $10,500 on a $1,000,000 home. This percentage is subject to change depending on the mortgage interest rate at the time of sale and the monthly HOA fee, which has not yet been finalized.
For the next 5-year period (Years 11-15), the annual PILOT will increase to approximately 1.25 percent of the sales price, or $12,500 on a $1,000,000 home. For the final 5-year period, the annual PILOT increases to approximately 1.6 percent of sales price in years 16 and 17 and 2.1 percent of the sales price in years 18 through 20.
The savings that this PILOT program provides to our residents is tremendous. It will also help stimulate community revitalization in and around Port Imperial. Experience Nine on the Hudson to see how your lifestyle (and your wallet) can change for the better.
Nine on the Hudson Sales Center
9 Avenue at Port Imperial
West New York, NJ
For more information, please call 888-546-8466.