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Friday, January 20, 2006

BROKE-ASS CITY

Homeowners all over Jersey City have been reeling over their their first-quarter tax bills, which were sent out earlier this month. Although the actual amount of the tax increase is yet to be determined by the city, most if not all 2006 Q1 tax bills have already reflected as much as a 50% increase over last year's Q1.

Jerome Lazarus, a former employee of the city's finance department who says he hasn't missed a Jersey City municipal budget meeting in more than half a century, has more than a little fiscal knowledge.

And Jersey City, he says, has reached "a crisis in its finances."

Full Jersey Journal story here. Also, read the tax hike discussion by local downtown residents on JCList here.

[Image created by Justiceiro via JCList]


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