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Trenton administration lays out $298M draft budget; tax rate proposed to rise about 2%
Summary
City administration presented a draft FY2026 budget of about $298.4 million including grants, proposing a 2% municipal tax-rate increase and an estimated $59 million in transition aid; staff said appropriations exceed the 3.5% cap and a Local Finance Board waiver will be sought.
City finance staff presented a draft FY2026 budget to the Council on April 7 that totals roughly $298.4 million including grants and assumes $59 million in transition aid and $10 million in capital city aid.
"Our proposed budget for this year is $298.4 million including grants," said the finance presenter during a statement to council. The administration described a projected municipal tax‑rate increase of about 2% (from roughly $3.70 to $3.78) and explained why the total…
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