Jersey City, New Jersey

Monmouth County voters decide Tuesday whether Republicans retain full control of county government. Incumbent Commissioner Erik Anderson is paired with Tony Perry, longtime Middletown mayor, against Democrats Chelsey Tanner and Sofia J. Ugarte. Republican incumbent Ross F. Licitra is not seeking reelection. The GOP ticket emphasizes fiscal restraint and the county's AAA bond rating, while Democrats focus on workforce support and accessible county services.

Voters will also choose the county surrogate, overseeing probate, estates, and guardianships. Republican incumbent Maureen T. Raisch, seeking a second term, points to administrative modernizations, while Democratic challenger Anthony L. Cherry Jr., a defense attorney, is campaigning on expanding court accessibility.

Since 2001, Lakewood Township has transferred 220 acres of public land near the Jersey Shore BlueClaws stadium at no cost to a development arm of Beth Medrash Govoha (BMG), a large Orthodox Jewish yeshiva. The entity, Cedarbridge Development, has resold the land to builders for nearly $70 million, while developers have saved over $8.6 million through local tax breaks (PILOTs) since 2018. A 2010 lawsuit challenging the deal as unconstitutional was dismissed. Constitutional experts say the arrangement may violate the state constitution's "gift clause" barring giveaways of public property without clear public benefit.

The New Jersey State Commission of Investigation is now examining similar municipal land deals involving PILOT tax breaks statewide, without confirming whether Lakewood is a specific target. The scrutiny comes as Lakewood faces a budget shortfall, a hiring freeze, and warnings of 2027 layoffs.

New Jersey Lt. Gov. Dale Caldwell resigned Friday, a day after Gov. Mikie Sherrill released a 61-page report from a four-month investigation, led by former Attorney General Christopher Porrino's law firm, substantiating findings of sexual harassment and repeated ethics violations. Investigators found credible evidence that Caldwell made an unwanted romantic advance toward a staffer's friend, sought a promotion for a state employee he was secretly dating, and brought unpaid guests to ticketed events despite prior warnings. Sherrill said the episode reflected a longstanding Trenton culture of overlooking sexual harassment that her administration would no longer tolerate.

Caldwell, who is Black, suggested race played a role in the allegations and disputes the report's findings, saying he resigned to avoid distracting from Sherrill's administration; days later he preached at his church about false accusations. Acting Comptroller Shirley Emehelu now oversees the Division of Elections ahead of the midterms, while Senate President Nicholas Scutari serves as acting governor when needed. Sherrill has 45 days to name a permanent replacement, with reports suggesting she may favor another Black leader, possibly a woman, for the role.

Jersey City, New Jersey's second-largest city with a population of about 302,000, has seen years of rapid growth marked by waterfront high-rise development and a skyline that rivals nearby Lower Manhattan. Despite that expansion, the city is facing serious budget pressure, and Moody's Investors Service recently downgraded its bond credit rating to a lower investment-grade tier, citing fiscal strain.

The downgrade highlights a paradox: cities experiencing strong development and rising property values can still struggle with structural budget problems, including reliance on one-time revenue, rising costs, and limited flexibility to raise property taxes. Mayor Steven Fulop's administration has overseen the city's growth push, but critics point to unsustainable spending patterns.

For prediction markets, the situation raises questions about municipal fiscal health more broadly in high-growth, high-cost urban areas, and whether other fast-growing postindustrial cities could face similar credit pressures despite outward signs of prosperity.

The Jersey City Council has approved a municipal budget that raises the property tax levy by 15.15%, over vocal objections from residents at Wednesday's meeting. Homeowners are already seeing the increase reflected in their tax bills, and renters could face higher costs as leases come up for renewal.

Council members said the city faced a severe budget shortfall, worsened by an audit finding more than $94 million in costs pushed into future budgets. The state is providing a $105 million loan and a $15 million grant, which officials say kept the increase from climbing closer to 30%. Council members warned that rejecting the budget risked a state takeover with even steeper tax hikes. Despite the frustration, only a small number of residents attended the meeting, though those who did were sharply critical, with one homeowner calling for the entire council to be voted out in the next election.

Jersey City's council has approved a 15.5 percent property tax increase, a move officials say was necessary after an audit revealed the city had pushed more than $94 million in costs into future budgets, creating a significant fiscal gap. The state is providing a $105 million loan and a $15 million grant to help close the shortfall; without that support, council members say the increase could have reached 30 percent.

Several council members who voted yes acknowledged the hardship the hike will create for residents on fixed incomes, but warned that rejecting the budget risked worse outcomes down the line. The increase lands even as Jersey City has seen years of booming development and an influx of high earners, underscoring concerns about municipal fiscal management. The hike coincides with separate tax increases from the county and school board, both also set at 15.5 percent, compounding the financial impact on property owners.