{"id":332396,"date":"2026-08-29T01:54:19","date_gmt":"2026-08-29T01:54:19","guid":{"rendered":"https:\/\/www.newsbeep.com\/us-ny\/332396\/"},"modified":"2026-08-29T01:54:19","modified_gmt":"2026-08-29T01:54:19","slug":"jersey-city-gets-120m-bailout-then-raises-property-taxes-15","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us-ny\/332396\/","title":{"rendered":"Jersey City gets $120M bailout, then raises property taxes 15%"},"content":{"rendered":"<p>\ud83d\udcb0 Jersey City homeowners will pay about $630 more on average after the tax hike.\ud83d\udcc8 The increase is more than seven times New Jersey&#8217;s 2% property-tax levy cap.\u26a0\ufe0f The city was facing a 30% hike before receiving $120 million in state aid.<\/p>\n<p><a href=\"https:\/\/nj1015.com\/tags\/jersey-city\" target=\"_blank\" rel=\"nofollow noopener\">JERSEY CITY<\/a> \u2014\u00a0The largest bailout in New Jersey history wasn&#8217;t enough to prevent a massive <a href=\"https:\/\/nj1015.com\/tags\/nj-taxes\/\" target=\"_blank\" rel=\"nofollow noopener\">property tax hike <\/a>in Jersey City.<\/p>\n<p><img decoding=\"async\" src=\"https:\/\/www.newsbeep.com\/us-ny\/wp-content\/uploads\/2026\/08\/attachment-wkxwfm-square.png\" alt=\"New Jersey 101.5 FM logo\"\/><\/p>\n<p>That&#8217;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.<\/p>\n<p>The increase takes effect immediately.<\/p>\n<p>The 15.15% spike is also more than seven times the state&#8217;s 2% property-tax levy cap, yet it&#8217;s not even the largest hike in the last five years. In 2022, the city&#8217;s property taxes climbed by <a href=\"https:\/\/nj1015.com\/nj-average-property-tax-2022\/\" target=\"_blank\" rel=\"nofollow noopener\">a jaw-dropping 33%<\/a>.<\/p>\n<p>Why Jersey City says it needs a 15% tax hike<\/p>\n<p>This latest double-digit increase prevents cuts to first responders, the youth employment program, and basic services such as filling potholes, <a href=\"https:\/\/insidejerseycityhall.substack.com\/p\/how-we-never-end-up-here-again?utm_id=97758_v0_s00_e0_tv2_a1demo0gxno9pi\" target=\"_blank\" rel=\"nofollow noopener\">according to<\/a> first-year Mayor James Solomon. He said the hike included in the city&#8217;s $886 million budget would be the hardest thing he&#8217;d ever ask of his constituents.<\/p>\n<p>Solomon blamed the hike on his predecessor.\u00a0Earlier this year, Solomon&#8217;s office audited the city&#8217;s finances and found a <a href=\"https:\/\/www.jerseycitynj.gov\/news\/report_revealing__250_million_budget_deficit\" target=\"_blank\" rel=\"nofollow noopener\">$255 million budget gap<\/a>. He accused former Mayor Steve Fulop of approving budgets that kicked fiscal responsibilities down the road. Fulop has rejected that characterization.<\/p>\n<p>&#8220;Jersey City is no longer pretending. We know what we owe, we know what we take in, and for the first time in a long time, we have a plan to close the distance between the two,&#8221; Solomon said in a message to the city.<\/p>\n<p>NJ gave Jersey City $120 million before the tax hike<\/p>\n<p>It could have been twice as bad, as only weeks ago the city was facing a 30% hike instead of the approved 15% increase. In July, the <a href=\"https:\/\/www.nj.com\/hudson\/2026\/07\/this-nj-city-has-approved-a-state-aid-deal-that-will-raise-taxes-see-how-much.html\" target=\"_blank\" rel=\"nofollow noopener\">state approved the largest bailout <\/a>for a city in New Jersey history.<\/p>\n<p>The city received $120 million in aid from the state, including a\u00a0$105 million loan and a $15 million grant. It was greenlit on the condition that Jersey City would approve the property tax increase.<\/p>\n<p>The bailout has drawn outrage from state Republicans, who argue that suburban and rural New Jersey taxpayers are effectively helping cover Jersey City&#8217;s fiscal problems.<\/p>\n<p>&#8220;This is a case study in what happens when Socialists run out of other people&#8217;s money &amp; expect a gargantuan bailout,&#8221; Assemblywoman <a href=\"https:\/\/www.njleg.state.nj.us\/legislative-roster\/474\/assemblywoman-fantasia\" target=\"_blank\" rel=\"nofollow noopener\">Dawn Fantasia<\/a>, R-Sussex, said.<\/p>\n<p style=\"text-align:center\"><a href=\"https:\/\/nj1015.com\/jersey-city-property-taxes-15-percent\/mailto:trenton.dme@townsquaremedia.com?subject=Feedback or correction\" rel=\"nofollow noopener\" target=\"_blank\">Report a correction<\/a> \ud83d\udc48 | \ud83d\udc49 <a href=\"https:\/\/nj1015.com\/contact-nj-1015-newsroom\/\" rel=\"nofollow noopener\" target=\"_blank\">Contact our newsroom<\/a><\/p>\n<p>Average New Jersey property taxes in 2025<\/p>\n<p>Check to see whether your municipality&#8217;s average tax bill last year went up or down. Data is from the state Department of Community Affairs. Municipalities are listed by county and alphabetically.<\/p>\n<p class=\"photogallery-credit\">Gallery Credit: New Jersey 101.5<\/p>\n<p>Share of your tax bill going to schools vs. municipality<\/p>\n<p>How your property tax bill is split up depends on where you live. This is the data from the state for the year 2025. <\/p>\n<p class=\"photogallery-credit\">Gallery Credit: New Jersey 101.5<\/p>\n","protected":false},"excerpt":{"rendered":"\ud83d\udcb0 Jersey City homeowners will pay about $630 more on average after the tax hike.\ud83d\udcc8 The increase is&hellip;\n","protected":false},"author":2,"featured_media":332397,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[14472,9,11,10,17805],"class_list":["post-332396","post","type-post","status-publish","format-standard","has-post-thumbnail","category-new-york","tag-new-jersey-news","tag-new-york","tag-new-york-headlines","tag-new-york-news","tag-ultimate-new-jersey"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts\/332396","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/comments?post=332396"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts\/332396\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/media\/332397"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/media?parent=332396"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/categories?post=332396"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/tags?post=332396"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}