1/If anyone is wondering why the #PayrollTax is needed in #JerseyCity to help fund @jcps_district schools, here's a thread. This is admittedly complicated & fraught w/ legacy & external issues (eg 2% cap) but ultimately public can/should engage & understand this LOCAL problem.
2/ I created a #NJ #PropertyTax dashboard to show property tax history for last 20 years in NJ. Here's the link: civicparent.org/2018/09/27/nj-…
Drill into #JerseyCity (w/in Hudson County). And you'll see tax base growth & also property tax levy growth for City, County, & BOE.
Drill into #JerseyCity (w/in Hudson County). And you'll see tax base growth & also property tax levy growth for City, County, & BOE.
3/ Notice tax base growth of #JerseyCity from 1988 to 2017 (lower left chart). We have largest tax base in entire state in '17. On lower right, notice City property taxes (red line), which correlates somewhat w/ tax base growth (it's going up)...
4/...But then notice School tax rate (orange). which rises, but at a much flatter rate than the city tax rate. As a community, we are investing in our city but not in our schools. Not shown on this chart: the state aid....funding 75% of our $600M schools budget for last 10 yrs..
5/ But now state aid is going away & Schools budgets are about to get gutted-schools will close if we don't find new revenues. Orange line (school prop tax) cannot increase fast enough w/in next 5 years to make up for state aid reduction. That's why we need new source of funding.
6/ One option, proposed by Trenton (@GovMurphy @NJSenatorSBC #BrianStack, @RajMukherji) is the #PayrollTax, which would allow #JerseyCity businesses-incl waterfront corps.-to help fund schools & truly support local kids & public good of public education.
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