Newark City Budget Still Needs Final Vote, Already Several Months Late

NEWARK, NJ — New Jersey's largest city is still operating without a finalized municipal budget as it heads into October.

Newark's 2026 spending plan remains caught in a back-and-forth with the state, which won't likely be resolved until the end of October – months later than the April 30 deadline, a city administrator recently said.

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Property taxes in New Jersey are mainly made up of three parts: school, municipal and county.

In an unusual set of circumstances, it's possible that the average Newark homeowner with a property currently assessed at $191,563 could see an $81 decrease to their municipal tax bill and a $20 drop in their school tax bill, but still have an overall tax hike of $458 because of a gap between property assessment and actual market values, TAPinto Newark reported.

• Related: Property Tax Revaluation In Newark: Will Your Share Rise Or Fall?

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