The Jersey City Council has unan🌜imously passed a resolution to authorize preparation and maili♛ng of estimated tax bills for the third quarter of this year that will reflect an increase in the estimated tax rate.
Under the , the estimated tax rate will increase from 1.604 percꦇent to 1.889 percent, which will lead to an increased levy from $635.6 million to $773.8 million. The c🅘hanges reflect the increase in the Jersey City school’s district adopted budget from earlier this month.
“Basically, we have recurring expenses that are ongoin🐠g, but if we don𝓡’t have the revenues coming in to match it, we have some problems,” Acting Chief Financial Officer Jack Scura at a May 23 caucus meeting.
The estimated tax levy will see about 45 percent of it at $352 million going to the school district. $217.8 million will be for the city, and $184.9 million is for Hudson County. For the rest of the categories, $15.1 million is for the public libraries, and $1.02 m𒈔illion will be for arts and culture, and꧒ open space each.
Earlier in the month, the Board of Education adopted a $973 million budget that will have a tꦏax levy of $283.6 million. Scura said that he estimates about $85 million will be paid to the district in August to help “keep flowing” the cash.
“We used the actual Board ♚of Education approved budget number in there because it’s known and measurable right now,” he said. “I just built in a little bit for inflation.”
Jersey City has not proposed its 2022-2023 municipal budget as of yet, but Business Administrator John Metro said that they will present it at the next coℱuncil meeting, explaining that they’re waiting to hear back from FEMA reimbursements and American Rescue Plan funds.
“We’ll give it to the council at the next council meeting, and we’ll also send it to the state so they can start doing their approval process,” he said. “Then we’ll start scheduling all of our budget hearings within the next two-to-three weeks.”
The tax collector will need to prepare and mail ♋the tax bills by August 1.
For updates on this and other stories, check iccwins98.com and follow us on Twitter @hudson_reporter. Mark Koosau can be reached at [email protected] or his Twitter @snivyTsutarja.
