Fisher: Hoboken at a Financial Crossroads, Needs Real Leadership

HOBOKEN, N.J. – Following a meeting of the Hoboken City Council where no vote was taken on Hoboken’s 2025 municipal budget, Councilwoman and mayoral candidate Tiffanie Fisher is warning that the city is heading toward a financial crisis- and that urgent, experienced leadership is needed to reset Hoboken’s course.

“We are at a financial crossroads,” said Fisher. “After years of unsustainable spending and backroom decision-making, Hoboken is now on the brink of losing control of its own finances. This is the cost of politics overriding responsibility- and we simply can’t afford more of the same.”

The proposed budget includes a $4.6 million tax increase, raising the municipal portion by 6.9%. Without a credible long-term plan in place, the city risks further tax hikes or even state oversight in the years ahead.

Fisher—who has worked as a COO, CFO, and investment banker- has taken a lead role in budget negotiations, introducing an amendment that would reduce the tax increase by $1.9 million. Her proposal would offer immediate relief to residents while laying the groundwork for deeper financial reform.

“Hoboken’s debt has more than doubled in just two years—from $144 million to $320 million—at a time when interest rates are at their highest in decades,” said Fisher. “That’s not just unsustainable. It’s irresponsible.”

Fisher, who has consistently led on fiscal responsibility throughout her tenure, noted that while she supported many of the city’s recent investments - in parks, infrastructure, and public safety—they often moved forward without transparency or a long-term funding strategy.

“We’ve made big investments, and committed significant resources, - but it has been done without clear budgets, without sustainable revenue, and without a plan,” said Fisher. “That’s what put us in this position.”

She points to a broader pattern of politically driven spending, opaque budgeting, and reliance on one-shot revenues like temporary state aid and depleted surplus funds.

“Our budget reflects our values,” Fisher added. “Right now, those values are distorted. We’ve prioritized ribbon cuttings and headlines over financial health and the basic services residents rely on every day.”

Fisher’s amendment would freeze non-essential spending for the remainder of 2025, slow the pace of reserve growth, and target inefficiencies—while preserving core services and public safety funding.

She argues that solving Hoboken’s financial crisis requires more than short-term fixes—it demands a fundamental shift in how City Hall operates. As mayor, Fisher would implement a resident-first strategy rooted in transparency, accountability, and long-term planning, including:

• Ending tax breaks for market-rate housing and negotiating stronger deals with developers to protect taxpayer interests

• Restructuring City Hall to align staff and resources with resident needs—not political priorities

• Modernizing city operations, including long-overdue IT upgrades and bringing financial planning functions in-house to reduce waste

• Fixing the broken contracting system by bidding out municipal contracts and eliminating politically motivated legal spending

• Demanding more from Hudson County, especially in public safety and in getting a fair return on Hoboken’s Open Space Trust contributions

“This is a moment to reset—not just the budget, but how we govern,” Fisher said. “We need a long-term financial strategy that protects what makes Hoboken such a special place to live, work, and raise a family—without pushing an unsustainable burden on to taxpayers.”

Fisher believes the delayed budget vote should serve as a wake-up call.

“The residents of Hoboken deserve a city government that tells them the truth, spends their money wisely, and plans for the future,” she said. “That’s the kind of leadership I’m ready to bring as mayor—because the status quo isn’t working.”

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