The Jersey City Council is preparing to adjust the Arts and Culture Trust Fund tax to give the city council the ability to set the tax rate by resolution annually. The revision would remove the wording that imposed the quarter-penny-per-$100 in property value assessment from last year, but otherwise leave the ordinance establishing the trust fund tax unchanged for now. A first reading of the proposed ordinance is scheduled for Wednesday’s City Council meeting. Ward E Councilman James Solomon called the amendment a “clerical cleanup” at Monday night’s council caucus meeting, designed to change …