Mayor Zimmer Introduces 2017 Budget With Tax CutTweet
Hoboken, NJ - Wednesday, March 15th, 2017
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