Politics & Government
Newark City Budget May Come With Tax Increase
The municipal budget has been introduced. Here's what it many mean for homeowners' taxes in Newark.
NEWARK, NJ — The Newark City Council has introduced its latest municipal budget, which would come with a tax increase for local homeowners if it crosses the finish line intact.
The council unanimously voted to introduce the budget at their June 25 meeting. The $914.5 million spending plan will undergo a second vote and a public hearing, although a date wasn’t set at the meeting.
According to figures from the city’s business administrator, an average homeowner with a property assessed at $189,640 is projected to pay $7,232 in municipal taxes under the proposed budget – an increase of $189 from last year, TAP Into Newark reported.
Find out what's happening in Newarkfor free with the latest updates from Patch.
Property taxes in New Jersey are mainly made up of three parts: school, municipal and county. Here’s how that played out in Newark for 2023, according to state data:
- School – 31%
- Municipal – 54.8%
- County – 14.2%
Watch footage from the meeting below (video is cued to the budget discussion).
Find out what's happening in Newarkfor free with the latest updates from Patch.
Send local news tips and correction requests to eric.kiefer@patch.com. Learn more about advertising on Patch here. Find out how to post announcements or events to your local Patch site. Don’t forget to visit the Patch Newark Facebook page.
Get more local news delivered straight to your inbox. Sign up for free Patch newsletters and alerts.
