Q1 Q2 2009 Taxes Memo Hoboken

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MAYOR
DAVID ROBERTS
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CITY HALL
February 10,2009
HOBOKEN, NEW JERSEY
Dear Resident:
Enclosed, please find your current tax bill.
--~-li'l--an-ever-ehftflging-eeenomy-y(mr-local government is-working -to-streamline costs-and ensure an
economy of scale that will provide for efficient government services.
As we know too well, our national economy is suffering, We have all taken measures to tighten
our belts and weather our current situation. I, like all Hoboken citizens, am seeking to be
fmancially prudent as we begin the year.
This has been a very difficult year for us here in Hoboken as we are internally making many
changes that are designed to improve the efficiency, finances and productivity of our City, I
understand the increase in our tax levy was brought about by many factors but we are working
very diligently on a host of economic incentives. As this year's budget is adopted, hopefully in
March, we will be able to bring our tax levy back to a reasonable number.
The way this is done is through cooperation. We are trying to increase efficiency while we try to
find new areas of revenue especially those concerning office buildings in Hoboken near
transportation which has the potential of bringing in millions of dollars of new tax revenue into
our community.
I want you to know that I have submitted a very large infrastructure plan to the Hudson County
Executive, Tom DeGise dealing with alleviating the flooding in parts of our City. We have an
opportunity that, as part of the federal stimulus package, will allocate a substantial investment to
our City. This will result in new job creation and arso bring new infrastructure improvementsto
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our City such as the aforementioned elimination of flooding in some neighborhoods.
Despite our current fiscal situation, there is hope in the coming months. Due to budget cuts and
the release of financial constraints on our municipal budget, we anticipate a savings which will
produce a marked reduction in taxes.
It is anticipated that your next tax bill will be lower as a result of these savings and will stabilize
as a result of overall municipal cost cuts. I also anticipate that in the next 12 months your bill will
be significantly reduced. I appreciate your understanding as we make these current adjustments.