The owners of Freehold Raceway pursued and received hefty tax breaks two years ago, the Asbury Park Press has learned.
But despite that significant boost to their coffers, along with a $1.6 million annual purse subsidy from New Jersey taxpayers, owner FR Park Racing still plans to shutter the historic racetrack later this month.
The Freehold Raceway New Jersey Tax Court case in 2022 is relevant with the final day of racing after 151 years set for Dec. 28, as are the questions raised about the value of the property, expected to go on the market in the near future…