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Jersey City Tax Hike Softened by State Aid | Jersey News
Jersey City faces a tough fiscal crunch, proposing a 15% property tax hike—down from an initial 20%—thanks to $120 million in state aid, including $15 million emergency funds and $105 million in low-interest loans. Even with that boost and the expected $60 million in new revenue, a $20 million shortfall remains. To close it, officials plan $10 million in service cuts (without compromising public safety) and may unlock $10 million from restricted funds, plus a fall reorganization to slash recurring costs. A detailed plan is due by July 15th, and City Council will vote on the tax hike at a…
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