Property Tax Now: 6-Percent | Paterson Times

Property Tax Now: 6-Percent


City council has approved a new ordinance which will increase property tax by 3.5-percent; thus more than doubling the tax levy. The present tax rate is 2.5-percent. In total the new rate will be 6-percent.

With an economy that feels like it has been stuck in recession since 2008, most families in Paterson have been groaning under the pressure of what they see as excessive taxation by the municipal government.

Moreover, the tax did not receive much opposition in the City Council with only one member, Kenneth Morris voting against it. Had it not been for State laws passed under Chris Christie which put a cap on properties taxes the increase would have been more severe.

Public hearing for the 2013 budget and the tax hike is set for November 8th.