Tag Archives: Jersey City Revenue Sharing Plan

Mayor Fulop Signs Executive Order Dedicating 10 Percent of Future Tax Abatement Payments to Jersey City Public Schools

 

Mayor Fulop Sign Executive Order
Jersey City MayorSteven M. Fulop

Revenue Sharing Plan Comes After Fulop Administration Delivers Four Years of No Tax Increase, Sets Fiscal House in Order; EO Uses Rutgers Projections for Impact PILOT Projects Have on Public School System

 

Mayor Steven M. Fulop announced that today he signed an executive order that will dedicate 10 percent of the revenue from future tax abatements to the Jersey City Public Schools, with the revenue being shared through an unrestricted transfer of funds at the end of each calendar year.

“For the past four years we worked on correcting the fiscal mismanagement and structural deficit that we inherited from past administrations, and were able to deliver four consecutive years of no tax increases and three consecutive credit upgrades,” said Mayor Fulop.  “With the city’s fiscal house on solid footing, we believe now is the right time set the standard that tax abated properties contribute to the board of education to relieve the burden on all of our city taxpayers.” Continue reading Mayor Fulop Signs Executive Order Dedicating 10 Percent of Future Tax Abatement Payments to Jersey City Public Schools

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