HudCo to hit Hoboken with 4% tax increase
Hoboken can expect to see another tax increase from Hudson County this year, its largest portion of the Mile Square taxpayer bill.
Mile Square taxpayers see their annual taxes divided into three portions: municipal, education and county.
The anticipated increase comes by way of a preliminary budget in a weekend report by county political columnist Augie Torres over the weekend.
Projected in this year’s budget is a tax increase of $10.6 million in a projected budget of $540,380,406.
The lion’s share of the more than $10 million tax increase will be paid by Jersey City recently ordered to do a decades overdue reval it argued to put off further but Hoboken is next on the tax hit list.
As a percentage, the Hudson County tax increase, an almost annual affair with the Mile Square will be less dramatic than the double digit increase in 2015.
The tax levy for Hudson County sees an increase of 4.2% from $323,743,753 in 2015 to $337,753 in 2016. The numerical increase for county taxpayers comes in at $13.6 million.
Hoboken taxpayers will see three million of that increase likely hitting their pockets when the final county budget is approved.
In recent years, the Hudson County of Freeholders, the legislative branch has begun holding one of its budget meetings at Hoboken City Hall. Some residents have come out and complained about the formula used to determine the municipalities portion of taxes but the numbers have not been significant impacting changes in the proposed budget.
Mayor Zimmer spoke and contrasted the efforts her administration with the City Council have instituted seeing far lower impact on taxpayers asking why similar efforts are not demonstrated by the county. She called on Hudson County to institute a 2% tax cap.
Last year MSV attended and joined with others in speaking out against the lack of financial performance auditing.
Hudson County reported employees number almost three thousand people. While the private sector has seen dramatic changes in recent years with cuts to jobs and added efficiencies, the county appears immune.
Related: Last year, Hoboken saw a double digit increase from Hudson County of over 11%.
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