Dear Editor:
The municipal tax rate in Jersey City grew 84.87 percent between 2005 and 2010 and for the last several years, the city was facing a $80 million shortfall in the budget, so I was somewhat surprised to see a $16 million surplus for calendar year 2012 presented at the budget hearing.
So my question – is that a genuine surplus or a political surplus that can be rolled over to calendar year 2013 to decrease February tax quarter before the municipal election and will taxes rise later? The administration can state they are under a cap to prevent sharp increases but there are exceptions to the cap such as debt service.
I believe some of that surplus money should be applied to the city’s growing debt service, or returned to taxpayers.
Yvonne Balcer