Resolution of the City of Jersey City, N.J. File No. Agenda No. Approved:
BudgetAI Summary
Resolution 22-409, approved by the Jersey City Municipal Council on June 15, 2022 by an 8-0 vote, formally introduces the Calendar Year 2022 Municipal Budget. The resolution was sponsored by the Council and recommended for approval by the City's Department of Finance (Director Carmen Gandulla), the Corporation Counsel, and the Business Administrator. A public hearing will be scheduled following the resolution's approval to allow for public comment on the budget document.
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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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