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Mayor: 5.6% introduced tax increase is a placeholder; city aims for about 2% after transitional aid
Summary
Paterson officials held a virtual town hall to correct misinformation about a 5.6% tax increase in the introduced budget, outline the city's request for $33 million in transitional aid and explain how state aid and programmatic incentives affect residents' tax bills.
Mayor (unnamed) told residents at a virtual town hall that the 5.6% tax increase shown in Paterson’s introduced budget "only serves as a placeholder." He said the city’s objective is that, after state transitional aid is applied, the increase be “closer to 2%.”
The mayor explained that Paterson is a transitional aid city and that the administration has requested $33,000,000 in state transitional aid for the coming year because of rising cost drivers including insurance, pensions and escalating salaries. "Last year, dollars 27,000,000. This year, we're asking for $33,000,000 because of cost drivers," he said.
Nut graf: The introduced municipal budget shows a higher rate because it does not include the yet-to-be-determined…
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