Corbacho v. Mayor & Council of Newark

The Legislature enacted a tax abatement statute, N.J.S.A. 54:4— 3.139 to -3.149, in order to stimulate the construction of private businesses and homes in areas designated as “Urban Enterprise Zones.” See N.J.S.A. 54:4-3.139(a)-(m). This legislation authorizes the governing body of a city containing an Urban Enterprise Zone to grant tax abatements with respect to new construction. N.J.S.A. 54:4-3.142. Pursuant to this enabling legislation, the City of Newark enacted an ordinance permitting tax abatements for the construction of new one to four family “residential structures.” Newark, N.J.,…