ADDITIONAL TAX CUT, $20 MILLION FOR NEW OPEN SPACE MOVES FORWARD
Introduced budget cuts personnel costs by $4 million, reduces taxes by 10% since 2010
The City Council voted to introduce the Administration’s municipal budget which includes a 10 percent tax cut compared to the fiscal year 2010 budget. The budget includes a reduction in payroll costs of approximately $4 million as a result of Mayor Dawn Zimmer’s efforts to address personnel costs.
The tax cut was achieved despite enormous fiscal challenges including $3 million in Police salaries for prior years, nearly $3 million in rising health care and pension costs, the establishment of a legally required $3.3 million reserve for uncollected taxes, and a $3.4 million reduction in state aid.
“Despite the challenge of rising costs beyond our control, I am proud that we have delivered a significant down payment on the tax relief that our citizens deserve," said Mayor Zimmer. “At a time when almost every municipality in the State of New Jersey is raising taxes, Hoboken is able to deliver an honest and fully-funded fiscally responsible budget that delivers tax relief to its citizens.”
The City Council unanimously approved the agreement reached between the Police unions and the Administration which saves $700,000 in retroactive salary payments and will save an additional $200,000 per year going forward.
Residents who care about open space are encouraged to speak at the next Council meeting on March 16 on the $20 million bond acquisition. This ordinance, crucial for bringing new open space to Hoboken’s underserved western neighborhoods, barely passed by a 5 to 4 vote, after an attempt to table it failed. The bond would be completely paid for by the Open Space Trust Fund.
“Hoboken needs more open space, and the Council needs to hear from the public to ensure that it follows through with final passage of this bond at the next Council meeting,” added Mayor Zimmer.
Mayor Zimmer is pleased with the final passage of the single stream recycling ordinance which authorizes her to proceed with her Administration’s initiative that will reduce costs and make recycling easier for residents. The City Council also unanimously approved an amendment to the rent control ordinance.
“I applaud the Council for taking this important first step, but I urge them to promptly consider the amendments that Councilman Bhalla discussed, which reflect important clarifications to ensure fairness for both tenants and landlords,” said Mayor Zimmer.
Documents and presentations regarding the 2011 budget are available on the City website at: http://www.hobokennj.org/government-finances/
Link: http://www.hobokennj.org/news/additional-tax-cut-20-million-for-new-open-space-moves-forward/
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