Wednesday, March 15, 2017

Mayor: 'Here's the 2017 Budget & another tax cut

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Wednesday March 15, 2017

City of Hoboken, NJ

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Community: Mayor Zimmer Introduces 2017 Budget With Tax Cut

Dear Horsey & MSV readers,

Mayor Dawn Zimmer is introducing a municipal budget that continues to keep municipal taxes stable for the 7th straight year. The introduced 2017 budget includes a 1.25% reduction in the municipal tax rate, due to a flat municipal tax levy and an increasing ratable base.

Over the next 6 years, the City will invest $42 million in the water main system. This includes the $7 million water main replacement on Washington Street that is currently underway, $5.2 million for additional improvements authorized for priority areas, and $30 million through the 6-year capital plan which includes an additional $5 million per year over the next 6 years.

“Since becoming mayor, we have worked with the City Council to restore fiscal discipline and hold the line on taxes, and I’m pleased that this year’s budget will provide a modest municipal tax cut,” said Mayor Dawn Zimmer. “Together, we have passed fully-funded, gimmick-free budgets, restored a responsible budget surplus, and improved our credit rating to AA+ from its near junk bond rating. This year’s budget also includes a capital plan to make annual investments to continue upgrading our water main system and additional funding to help maintain our expanding parks and green infrastructure.”

A property owner’s total tax bill includes three main components: municipal, school, and county taxes, along with smaller components for the Library, municipal open space, and county open space. In 2016, municipal purposes taxes made up approximately 31% of total property taxes while County taxes composed 40% and school taxes were 24%.

The introduced 2017 budget can be viewed at: www.hobokennj.gov/docs/businessadmin/CY17BudgetIntroduced.pdf.
A series of budget workshops will be held on the following dates:
  • Monday, March 27, 2017
o   Police – 6:00pm
o   Corporation Counsel – 7:00pm
o   Transportation and Parking – 8:00pm
  • Wednesday, March 29, 2017:
o   Community Development – 6:00pm
o   Health and Human Services – 7:00pm
o   Environmental Services – 8:00pm
  • Monday, April 3, 2017:
o   Fire – 6:00pm
o   Administration and Finance – 7:00pm
o   City Clerk – 8:00pm