STATEMENT FROM MAYOR RAVI S. BHALLA ON TAX REDUCTION IN THE MUNICIPAL BUDGET

Below is a statement from Mayor Ravi S. Bhalla on the passage of the Hoboken Municipal Budget amendment last night by the City Council with a reduction in municipal taxes by 2.8%

“After a year and a half of hardship, I’m glad to report that taxpayers will see a tax reduction in this year’s budget, providing much-needed relief while maintaining important City projects including water main upgrades, funding for parks, and improvements to critical infrastructure,” said Mayor Bhalla. “Even though we’ve faced substantial financial challenges during a global health pandemic, our collaboration with the City Council and assistance through the American Rescue Plan has allowed us to produce another balanced budget for the third year in a row. I thank members of the Council, especially finance sub-committee Chair Emily Jabbour, for working with my administration on creative budget solutions. I look forward to this budget’s formal adoption in the coming weeks.”