HOBOKEN -- Hoboken's 2011 budget, which is to be presented at the March 2 City Council meeting, shows a 10 percent municipal tax cut compared to the Fiscal Year 2010 budget, city officials said. Thus, taxes should go down this year in Hoboken.
The budget also indicates that the city will keep an approximate $5 million cash surplus - which Mayor Dawn Zimmer said is "the low end of the 5 to 10 percent cash surplus range considered to be responsible by the bond rating agencies" in a letter to the council members.
Budget workshops will take place on March 9 and March 23, and a public hearing will be held at least 28 days after the budget is introduced.
The council will also address the Hoboken Police Benevolent Association and Hoboken Superior Officers Association's collective bargaining contracts, as well as hold a public hearing on proposed rent control changes before a possible final vote on the issue.
For a story on the rent control changes, click HERE.
The meeting is scheduled for March 2 at 7 p.m. at City Hall. To watch the meeting online, click HERE. - Ray Smith