2009 Jan 29th

Hoboken Property Taxes – Some More Info

The Battle To Lower Hoboken Property Taxes Moves Forward

Since there have been a few threads in the comments discussing the tax situation in which we find ourselves here in Hoboken, I thought i would post this email I just received to pass on more information to all of you.






Headlines: (more details below)
  • Mortgage payments increasing
  • City announces some initial cuts in expenses
  • Important City Council meeting on Wednesday Feb 4th. Be there. 
  • LowerHobokenTaxes.com “meet and greet”, 10:00 pm at McSwiggans after the Council meeting
  • Update on Board of Education
Many of us have mortgage companies collect and pay our taxes to the City on our behalf rather than paying the City directly. If this is the case, you probably noticed a recent increase in the amount of your monthly payment. This occurs when you have depleted your tax escrow account at a higher rate than before. This triggers the mortgage company to recalculate your monthly payment. Unfortunately, you might not have felt the full effects of the increase yet and your mortgage company may increase your monthly payment as they receive future tax bills and the escrow balance reduces further.

There is still time to lower taxes for the rest of this fiscal year and all of calendar 2009. The 2008-2009 $121 Million budget was submitted but not approved.  There are still five months left in the fiscal year to further reduce expenses and reduce taxes.  

How can you help? Get involved. Woody Allen said 80% of success is SHOWING UP!  We have noticed new faces in the last few meetings, thank you for coming out.  We need more people to attend Council meetings, speak up, post comments, share info and join the LowerHobokenTaxes.com Steering Committee.  Reply to this email for more info or tell us how you can help. 

Upcoming Meetings and Events:

  • Council Meeting NEXT WEDNESDAY February 4th
    • The meetings are at City Hall in the courtroom and start at 7pm.  They often run past 10pm. You can stop in at any point.  Show up at 9 and then join us for cocktails at McSwiggans after. Or just join us for cocktails around 10pm (below) to hear about what happened!  
    • Church Towers PILOT extension is supposed to be back on the agenda for next week’s meeting. It is estimated this affordable housing property pays 1/5 of the normal taxes per unit and is at risk of losing its “affordable housing” status.  
    • Meeting agenda is available at the City’s website (usually by Friday) http://www.hobokennj.org/html/ccouncil/ccagenda.html
    • If you miss the meeting watch it here: http://www.hobokentv78.org/index.html


  • After-Council Meeting “Meet and Greet” Next Wed Feb 4th- Interested in meeting your neighbors and members of the LowerHobokenTaxes.com Steering Committee face to face? Join us at McSwiggans on 1st and Bloomfield at 10pm.   Ask the bartender where we are standing…  
  • Board of Education Meeting, Tuesday February 3rd- 6:00 p.m at 1115 Clinton Street. Why should you care? Read the article at the end of this newsletter. 

What Happened Last Week:

  • Council Meeting on 1/21-  

    • Last week’s meeting got heated when members of the public presented ideas for cuts to the fire and police departments.  PILOTS were discussed. Read the recap here:   http://tinyurl.com/cunxs7
    • The Council voted to increase parking fines in order to increase revenue into the city.  Because of the increased fines we may see the parking permit increases revoked bringing them back to $15 per car.  
    • Two Council members promised they would have a resolution back on the table at the next Council meeting lowering their salaries and those of City directors. Let’s see if they do it!
  • Finally Some Budget Cuts!
    • Last week 7 provisional city employees were laid off.  According to Judy Tripodi the layoffs were the first stages of an overall plan to reduce the municipal workforce by 10%.  The city has lost 43 employees through retirement over the past year.  The questions is why has it taken so long and when will we see the rest of the expense reductions. Is it enough?  
    • The Crosstown bus provided by the city will cease operations on Feb. 1.  This will save the city 260K annually.  Some residents have said they are creating a petition to reinstate it.  




  • Hoboken University Medical Center: Monthly Board Meeting held Wednesday Jan 29th
    • The Board announced they ran a $4.3 million deficit for 2008 and are working on reducing expenses in 2009 to combat a worsening economy. Taxpayers of Hoboken have a vested interest in the Hospital because we backed $52 MM worth of bonds. More details on the meeting may be found here.
    • HUMC responds to questions posed to it by Hoboken Tax Reform Coalition on Hoboken 411 : 

Board of Education:

  • What’s going on with the Board of Education?  and why you should care?

    •  The 2005-06 actual total cost per student was $16,793. The 2008-09 proposed budget cost per student was $24,949.  This is a 49% increase in 3 years.  We  are working to find out the reasons for the increase and if there have been measurable returns. Source: The Hoboken Board of Education 2008-09 Budget which can be found here:http://www.hoboken.k12.nj.us/index.php?q=node/663

    • The Board of Education recently approved a  4.3% salary increase per year for each of the next three years for teachers, clerks and other employees          details can be found here   http://tinyurl.com/cnrfmy
    • Our property tax is made up of three main components. One of those components is our school budget which, in 2008, accounted for 28% of our property tax (pre-increase).  If we, as taxpayers, are concerned with the spending practices in Hoboken government we must not overlook our school budget.   Source: The Hudson County Board of Taxation website, here: http://www. hudsoncountytax.com/html/RatesRatios.aspx
    • The next Board of Ed meeting is Tuesday February 3rd- 6:00 p.m at 1115 Clinton Street.

Our goal is to be a resource for our members who want to learn more about the current tax situation so we can all make informed decisions and fight this 84% Municipal tax increase! Please take a moment to let us know if this information is helpful by providing feedback here or replying to this email.

Forward this information to friends! Encourage them to sign up at LowerHobokenTaxes.com for frequent updates. 

Together,  we can Lower Hoboken Taxes!


End of email.  The views expressed herein do not necessarily reflect those of hobokenrealestatenews.com.  They are provided to educate the public on local issues that affect the real estate market.



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