Wal-Mart Subsidies in Lumberton, NJ
Store Details
| City | Lumberton |
| State | NJ |
| Address | 1740 Route 38 |
| ZIP code | 08048 |
| County | Burlington |
| Type of Facility | discount store |
| Year Opened | 2001 |
| Value of Subsidies | $534,000 |
Narrative
Wal-Mart received a property tax abatement for a discount store built in a redevelopment zone. The abatement phased in the assessed value of the discount store building at 20% per year over a five-year period. A city official estimated that Wal-Mart would have paid $246,000 per year in property taxes without the abatement, but instead paid only $68,000 in property taxes on the value of the land. We estimate the five-year savings to Wal-Mart at $534,000.
Print Friendly