Good News — Jersey City’s Tax Rate Less than Expected

The final tax rate of $1.48 per $100 of assessed value was officially certified by the board.  This is good news from many who were expecting 1.62.  The city was under a court order to complete its first revaluation since 1988 and assessed values of some Downtown homes jumped over 200%, hitting 1-4 family homes especially hard.  A look at the numbers demonstrates that property values have held steady through Q2 2018, despite rate increases.

According to Jersey Digs, Jersey City’s 1.48% rate remains a bargain, at least in the Garden State, where the average effective property tax rate is 2.40%.

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