Why is this man smiling?
Plainfield taxpayers may want to think of Commerce Bank founder Vernon W. Hill II as they write their next property tax check. While the average Plainfield homeowner pays about $6,000 a year, they can draw comfort from the fact that Hill, who owns the largest house in New Jersey, wangled a "farmland assessment" for his 42-acre property in Moorestown and pays a grand total of $295.98 per year in property taxes -- a tax savings of more than $60,000.
Nice, huh?
Story in today's Asbury Park Press.
Asbury Park Press: "Commerce Bank founder benefiting as "farmer""
-- Dan Damon
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