SENATE, No. 2026 STATE OF NEW JERSEY 221st LEGISLATURE
BudgetAI Summary
Senate No. 2026, introduced June 27, 2025 by Senator Paul A. Sarlo (District 36), appropriates $58,782,119,000 in State funds and $31,007,261,743 in federal funds for New Jersey's fiscal year 2026 budget ending June 30, 2026. The General Fund anticipates $8,305,960,000 in undesignated funds as of July 1, 2025, with major tax revenues including sales tax of $14,195,308,000, corporation business tax of $4,143,121,000, and business alternative income tax of $4,465,068,000. Total major taxes are projected at $27,457,836,000, supplemented by miscellaneous taxes and fees. The bill is pending technical review.
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More budgets from Jersey City
Jersey City's 2025 Municipal User Friendly Budget document presents the city's tax structure and financial overview, with a total estimated tax levy of approximately $1.097 billion based on a total taxable valuation of $47.014 billion as of October 1, 2024. The budget breaks down tax allocations across municipal purposes (36.34% of total levy), regional school district (43.33%), county purposes (17.85%), and other services including library, open space, and arts and culture programs. The average residential taxpayer impact is projected at $10,760.83, with the municipal purpose tax rate at 0.811 and the regional school district tax rate at 0.968, under the leadership of Mayor Steven M. Fulop and Chief Financial Officer John Mercer.
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