The average homeowner in Newark will pay $564 more in municipal property taxes in 2025, an increase of 14.4%, under a proposed $970.2 million municipal budget introduced by city officials on Thursday.
A public hearing and vote to adopt the budget will be scheduled for some time after Sept. 24, at least 28 days after the City Council voted to introduce the budget during a special meeting.
The increase would put the average Newark homeowner’s total municipal tax bill for 2025 at $4,459, up from an average of $3,895 in 2024, according to analysis of the budget’s tax impact provided to council members by City Business Administrator Eric Pennington…