According to Northampton County assessment records, this Bangor property (54 N1st St), owned by Ruggiero Corporation, is a residential parking lot. So are 50 N 1st St and 58 N 1st St. These are just three of fifteen parcels under consideration for KOZ classification. Any person who does business in a KOZ property pays practically no local or state taxes.KOZ exists to provide relief to communities “characterized by high unemployment, low investment of new capital, inadequate dwelling conditions, blighted conditions, underutilized, obsolete or abandoned industrial, commercial and residential structures and deteriorating tax bases.”
Call me cRaZy, but I don't think KOZ exists for residential parking lots in downtown Bangor.
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