Latest / Jersey City News Today | 2 Min News | The Daily News Now!
Jersey City Council Navigates Tax Tightrope | Jersey News
Jersey City’s council is in a tight financial bind after securing approval to set its own third-quarter tax rates — a major win after rejecting a 15% hike — but the real pressure’s just beginning. With bills still pending and the budget still up for grabs, the council can’t afford to rest. They’re under state pressure not to touch their thin surplus and are now wrestling with a $105 million state loan that demands a memorandum of understanding — and no interest-free terms. The state’s pushing for either a 15% or 20% property tax bump, with no room for cuts this year, and any savings would…
The skinny
The skinny isn't ready yet — notes appear once the transcript is processed.