Actually, it sounds more like an enticement to get whites to re-colonize Union City. For decades it has been more of a Caribbean city than an American one. Cory Booker is talking about constructing a “teachers’ village” in Newark (in the downtown, away from black people); I’d imagine they would have to offer something similar to get the teachers to live there (our highly-paid teachers in NJ can really live wherever they’d like once they’re tenured).
While NJ has among the highest property taxes in the nation, it has some side effects that hurt the cities. It is hard to make the suburbs foot the bill when their own costs are so high, and it reduces the fed income tax burden via itemized deductions (meaning that though you pay high taxes, more are spent locally - where you have more control over it - than on the federal level).