Council to adopt $535 Jersey City budget with no tax increase

JERSEY CITY – The City Council is set to adopt the 2015 budget with no tax increase following the prior year’s 2.13 percent tax decrease.
This year’s budget is worth $535 million, $19 million more than last year.
For the second consecutive year, the City’s tax base grew substantially increasing by $57 million in 2015.
In 2014, the tax base grew by $118 million, with Jersey City now having the largest municipal tax base in the state.
“It’s a rare accomplishment for a city in New Jersey to lower taxes and even rarer to keep taxes flat the following year, but in Jersey City that’s exactly what we’ve done two years in a row,” said Mayor Steven Fulop. “Our policies to attract investment and development to Jersey City are working, and with that comes new jobs, stable taxes and more and better services for our residents.”
The city council is expected to approve the budget at a special meeting on July 28.