During the past few years, homeowners living in Trenton, NJ, have found themselves paying increasing amounts of taxes. By some estimates, city taxes have increased nearly 30 percent within three to four years. The amount of money raised by the city government rose by 19 million dollars from 2009 to 2012. Within that same time period, however, police officers were laid off and city services rapidly deteriorated.
Home and business owners could be facing a property tax rate hike in 2013 that will equate to a 5 percent increase. If implemented, this increase would put Trenton’s city tax rate at a whopping $3.88 for each $100 of assessed value. By comparison, this figure was $2.48 in 2008. Continue reading