Property Revaluation 101: the Equalization Ratio

This the first post in a series about property revaluation in Jersey City. Jersey City has been growing at a breakneck speed for the past fifteen years.  As a city grows, it is required to stop along the way and revalue its real estate.  This process is termed “revaluation.”  Revaluation is about ensuring that tax assessed values – … Read more

Why Taxes Are Rising in Jersey City

This is my 2nd article in a series about property taxes in Jersey City. The 1st article, “Jersey City Rising,” is available here.  The General tax rate in Jersey City has increased 67% over the past seventeen years, from 4.46 in 1998 to 7.43 in 2014.  Over this time period, there has been no City-wide revaluation, so this … Read more

Jersey City Rising

Jersey City is a community on the rise. In the past ten years, dozens of new buildings have risen towards the sky along the waterfront, more residents are moving in, and public school enrollment is on the upswing.  But as buildings, residents, and school enrollments have risen, so too have property taxes; for the average Jersey City … Read more

Tax Abatements 201: Abatement Impact on Conventional Taxpayers

This is Article #2 in my series about abatements, which focuses on the impact abatements have on conventional taxpayers.  My first post, “Abatement Basics,” is located here.  How important are abatements to Jersey City residents?  The answer: extremely important.  Abatement revenues – also known as PILOTs, or “payments in lieu of taxes” – have increased from 3% of … Read more