Number of the Day: $428,657.71

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Seton Hall

Seton Hall University will pay a PILOT — or payment in lieu of taxes — of $428,657.71 to the Village of South Orange for 2014. The university, which as a nonprofit is not required to pay property taxes, pays 75% of the otherwise applicable taxes (what they would pay in taxes) each year in order to offset the cost to the village in services to the university.

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