Payments in Lieu of Taxes (PILOTs)
PILOT agreements allow developers to pay a negotiated annual fee instead of standard property taxes, typically for 30 years. The municipality keeps 100% of the PILOT payment; school and county taxes are not collected on these properties. Data is from the User Friendly Budget filings (2017–present); 2021 data is unavailable because the 2022 budget used a legacy format with no per-project detail.
2024 Summary
Annual PILOT Revenue
Actual revenue collected by the municipality each year. Anticipated figures are from the adopted budget; 2021 actual came from the 2022 legacy budget. Tax Revenue Foregone = taxes that would have been owed at full rate minus PILOT billing (the annual cost to school and county taxpayers).
Billing by Project
All Projects
| Project | Type | Agreement | 2017 | 2018 | 2019 | 2020 | 2022 | 2023 | 2024 | Assessed Value | Full Tax | Tax Savings |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 10 Sterling Drive Project | Other | 2/2022–2/2047 | — | $274K | $434K | $434K | $108K | $539K | $539K | $22.0M | $431K | $-107K |
| 100 Ridge Road Project | Comm./Indust. | 7/2018–7/2048 | — | — | $235K | $202K | $239K | $235K | $240K | $56.5M | $1,106K | $865K |
| 150 Old New Brunswick Ave | Comm./Indust. | 7/2021–7/2051 | — | — | — | — | $617K | $469K | $479K | $109.9M | $2,122K | $1,643K |
| 2 Turner Drive Project | Comm./Indust. | 8/2018–8/2048 | — | — | $352K | $359K | $359K | $352K | $376K | $50.9M | $983K | $608K |
| 200 Ridge Road Project | Comm./Indust. | 4/2022–4/2052 | — | — | — | — | $152K | $149K | $144K | $36.1M | $707K | $563K |
| 300 Ridge Road Project | Comm./Indust. | 4/2022–4/2052 | — | — | $547K | $558K | $558K | $547K | $562K | $54.2M | $1,061K | $498K |
| 330 South Randolphville Ave | Comm./Indust. | 7/2021–7/2051 | — | — | — | — | $25K | $465K | $863K | $27.0M | $522K | $-342K |
| 40 Kingsbridge | Commercial | 1/2023–1/2053 | — | — | — | — | — | — | $54K | $20.3M | $398K | $344K |
| 400 Ridge Road Project | Comm./Indust. | 1/2022–1/2052 | — | — | $61K | $305K | $305K | $299K | $307K | $75.2M | $1,473K | $1,165K |
| 600 Ridge Road Project | Comm./Indust. | 9/2017–9/2047 | — | — | — | $361K | $361K | $359K | $372K | $87.6M | $1,714K | $1,342K |
| 800 Centennial Project | Comm./Indust. | 4/2019–4/2049 | — | — | $74K | $269K | $289K | $389K | $512K | $25.9M | $508K | $-4K |
| Duke Realty 141 Circle Drive North | Comm./Indust. | 1/2022–1/2052 | — | — | — | — | — | $158K | $195K | $1.3M | $26K | $-169K |
| Duke Realty 1570 S. Washington Ave | Comm./Indust. | 11/2022–11/2052 | — | — | — | — | — | $384K | $747K | $23.2M | $449K | $-298K |
| IPT Piscataway Project | Comm./Indust. | 10/2017–10/2047 | $219K | $326K | $523K | $704K | $757K | $772K | $806K | $32.5M | $627K | $-179K |
| Rivendell Meadows Project | Comm./Indust. | 12/2021–12/2051 | — | — | — | — | $382K | $563K | $979K | $9.1M | $179K | $-800K |
| Genesis Skilled Nursing Facility | Other | — | $204K | — | — | — | — | — | — | — | — | — |
| Kiss Logistics Urban Renewal LLC | Comm./Indust. | — | — | — | $177K | $190K | — | — | — | — | — | — |
| Piscataway Bldg I Urban Renewal | Comm./Indust. | — | — | — | — | — | — | — | — | — | — | — |
Billing shown in thousands (K). “Full Tax” = taxes that would be owed at the combined rate without the agreement. “Tax Savings” = Full Tax minus PILOT billing — the annual benefit to the developer. Agreement dates from the 2025 UFB filing; some projects show 2022 agreement dates despite earlier payments (agreements were restructured). 2021 per-project data unavailable (legacy budget format). Data sourced from NJ User Friendly Budget filings.