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Jersey City Faces $677M Budget Gap | Jersey News
Jersey City’s financial future hangs in the balance as a looming audit exposes a massive budget shortfall, forcing a 15% tax hike—down from the mayor’s original 20% proposal—to cover a gap of over $677 million. With expenses and revenues both projected to exceed $874 million in 2026, the city’s reliance on one-time funds and pandemic relief has left it dangerously exposed. Unpaid bills from the prior administration add another $109 million in liabilities. To plug the holes, officials are turning to creative revenue streams like traffic fines, code enforcement, and billboard ads—even if some…
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