Re: New Tax Rate is Insane!

Posted by bodhipooh on 2018/3/13 15:52:41
Quote:

JCGuys wrote:
Jersey City budget preview released.

https://hudsoncountyview.com/jersey-ci ... t-with-zero-tax-increase/

No tax rate changes and the total budget is $587 million, $2 million less this year than the 2017 budget.

It's a little odd that the ratable base and PILOT payments have increased this year, the budget has dropped by $2 million, but the tax rate stays the same...

It literally doesn't add up.


Not that odd. Direct real estate taxation only accounts for about 60% of the municipal budget. The other sources of revenue may be lower (state aid, permit fees, other taxes) which could explain a lower budget. A 2 MM drop is not even 0.4%, so that's essentially a rounding error in practical terms.

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