This has obviously been a long time coming, but given the economic conditions of many of the city’s residents, many may question the timing. Obviously with the recent tax increases and lay-offs of city employee’s the city is strapped which points to wanting to raise revenue derived from Jersey City real estate property taxes or as the city calls it, “The purpose of this revaluation is to ensure a fair and equitable redistribution of the City’s tax levy so all property owners are shouldering their fair share of the City’s tax burden.” The City of Jersey City website also states “Now is the best time to do a property reevaluation because property values are at their lowest.”

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