Taxes will rise as Jersey City introduces $507M budget

JERSEY CITY — The state’s Local Finance Board approved $14 million in special state aid to Jersey City on Wednesday. Then the Jersey City Municipal Council met later in the evening to approve by resolution to introduce the $507.8 million municipal budget. Yes, a half billion-dollar budget that includes a $195 million tax levy, up $44 million over last year’s.
City Councilman Steven Fulop said after the council meeting that if the tax levy stays at the current amount, the owner of a home assessed at $100,000 could see an $800 increase in their property tax bill.
Ironically, the council voted 7-2 against introducing the legislation proposed by Fulop to allow homeowners to enter a payment plan with the city to pay back their taxes over as long as three years at low interest.
That frustrated Fulop even more as he and Councilman Viola Richardson were the only two council members to vote for the legislation.
It’s a budget introduced over six months late in the fiscal year, but which came about as the result of the $14 million aid being approved.
What come next are budget hearings with various city department to cut back as much as 20 percent if not more according to City Council President Peter Brennan. And then a public hearing on the budget scheduled sometime in late February or later before the council is ready to approve the budget. – RK

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