Hoboken Budget Calls for Small Tax Increase — How Much Is Yet To Be Determined

The City Council looks to tackle the Hoboken budget this Wednesday, as the administration’s proposed $118.2 million plan will incur a 2.8% increase in municipal taxes. As it stands, that increase translates to approximately $75 per household.

Initial discussions on the budget have been contentious, citing uncertainty from revenue streams such as the now-repealed Dynamic Pricing for parking in Hoboken.

Councilwoman Tiffanie Fisher, Chair of the Finance and Revenue Subcommittee, brought forth a proposal yesterday that reportedly trims spending by over $1 million, reducing the proposed tax increase from 2.8% to 1%.  This amendment, supported by Council President Jen Giattino, Councilman Mike DeFusco and Councilman Peter Cunningham, claims to avoid cuts in funding for emergency services, infrastructure, or other community programs

“This must be a belt tightening year for our government and it is irresponsible to ask taxpayers to open their wallets further than necessary,” said Fisher, Giattino, DeFusco and Cunningham in a joint press statement. “The amendments we are proposing preserve funding for necessary services and community programming that impact the quality of life for Hoboken residents while allowing us to provide an additional $100,000 to our overworked fire department, our seniors and for the City Clerk’s Office that works hard every day for our community.”

Hoboken City Spokesperson Vijay Chaudhuri told Hudson County View, “Mayor Bhalla thanks Councilmembers Giattino, Fisher and Cunningham for their commitment to working with him on producing a responsible budget that continues to offer critical services to Hoboken residents. He looks forward to a final budget that for the second year in a row holds the line on taxes.”

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