If the city had a "reval" then you can lower the tax rate and still come out ahead. Or just revaluate to true market value of the homes in J.C. and keep the tax rate the same so everybody is paying equal tax on equal value of their homes.

Hearing tonight, then vote on city's 'no tax hike' budget

Thursday, April 10, 2008

A public hearing on Jersey City's proposed $463.9 million municipal operating budget is scheduled for tonight at 6 at School 4, 107 Bright St.

This budget covers the fiscal year that ends June 30 and represents a $20.8 million spending boost over the last fiscal year's budget.

But due to an increase in non-tax-abated ratables in the city, property owners should be spared a tax hike - at least on the municipal portion of their tax bills, city officials have said.

The budget calls for raising $151.2 million from local taxpayers - roughly $11 million more than the last certified budget.

Given the $200 million increase in non-tax-abated ratables, the municipal tax rate should remain $25.47 for each $1,000 worth of assessed value; meaning a property owner with a building assessed at $100,000 would pay $2,547 a year in municipal taxes, officials said.

The school tax levy has risen roughly $4 million, to $86.1 million, for the fiscal year that begins July 1, which will cost the average taxpayer roughly $38 more per year, officials said.

County officials haven't yet announced their budget figures.

The proposed budget is reliant on an $8 million supplemental aid grant from the state and $15 million from Honeywell International as part of a settlement that calls for developing chromium-tainted land on the city's west side.

City Council members are expected to adopt the proposed budget after public comment.

KEN THORBOURNE