Property tax increases in 2016 far outpaced the rate of inflation for most Hudson County homeowners, and the average county homeowner got hit with a property tax hike one percent greater than the overall inflation rate and three percent greater than the jump in 2016 food prices.
The “all items” unadjusted Consumer Price Index rose only 2.1 percent for 2016. Food items actually declined slightly for the year, while energy costs rose over 5 percent by comparison. Those figures are calculated by the federal Bureau of Labor Statistics.
But Hudson homeowners suffered a 3.1 percent average tax hike. Some towns fared worse than others.
Secaucus homeowners’ property taxes went up almost 6% and Weehawken tax bills jumped 4.56% over 2015.
Even in Harrison, which has received special state budget aid the last two years, property taxes on average jumped 3.34%.
On the other hand, Guttenberg property taxes rose on average less than one percent, and Union City property taxes rose only 1.44%. However, Union City received over $17 million in special state aid for the state fiscal year 2015 ending in 2016, which accounts for over 15% of its total budget.
Jersey City, which is facing a revaluation of property tax rates, passed down an average 2.75% tax increase.
Pricey Hoboken, despite its luxury developments, socked homeowners with an average 3.82% tax hike for the third highest jump in the county.
Harrison, Kearny and North Bergen homeowners also saw average tax increases of over three percent.