💰 Jersey City homeowners will pay about $630 more on average after the tax hike.
📈 The increase is more than seven times New Jersey’s 2% property-tax levy cap.
⚠️ The city was facing a 30% hike before receiving $120 million in state aid.
JERSEY CITY — The largest bailout in New Jersey history wasn’t enough to prevent a massive property tax hike in Jersey City.
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That’s about $630 on average for Jersey City homeowners, who already face some of the highest property taxes in New Jersey and the country. City homeowners have a $11,249 property tax bill, which rose 6% last year.
The increase takes effect immediately.
The 15.15% spike is also more than seven times the state’s 2% property-tax levy cap, yet it’s not even the largest hike in the last five years. In 2022, the city’s property taxes climbed by a jaw-dropping 33%.
Why Jersey City says it needs a 15% tax hike
This latest double-digit increase prevents cuts to first responders, the youth employment program, and basic services such as filling potholes, according to first-year Mayor James Solomon. He said the hike included in the city’s $886 million budget would be the hardest thing he’d ever ask of his constituents…