Taxes To Rise 19 Percent In Preliminary Hoboken Budget

HOBOKEN, NJ — The Hoboken City Council voted Wednesday to introduce a $152 million city budget with a 19 percent tax increase.

After the 6-3 vote to introduce the spending plan, it will go to a hearing and final vote at a future meeting, probably next month.

The administration of Mayor Emily Jabbour said that they had made enough cuts to reduce a $17 million structural deficit to approximately $13 million, while reducing the anticipated municipal tax impact from more than 24 percent to less than 19 percent.

For the average assessed property in Hoboken, taxes will climb about $130 per quarter or $520 per year.

Hoboken property owners pay an overall tax amount that's decided by the city, school, and county budgets. The $152 million budget affects only the city portion.

"To reduce the budget deficit, the city has implemented a targeted hiring freeze, eliminated and reduced several consulting and professional services contracts, renegotiated vendor contracts, implemented operational efficiencies, used more grant, utility, and trust funds for eligible expenses, accounted for collection of unpaid taxes,and saved on healthcare costs through a Capital RX Value Program," said a release from the city.

Not Enough?

However, Councilwoman Tiffanie Fisher said the city needs to do more.

"I voted no," she wrote on social media on Thursday. "19 percent is too high and we can do better.There’s a responsible path to bring this closer to 10–13 percent—prioritizing taxpayers while maintaining our rating through known revenues, better cost management, and a disciplined, multi-year approach.

"As I always have, I’ll be working with my colleagues to deliver a better outcome over the next month. Hoboken is facing real financial pressure, but a 'sky is falling' approach that misrepresents key parts of our finances isn’t what we need."

“Introducing the 2026 budget is a critical step toward restoring Hoboken’s financial stability and putting our community on a more sustainable path forward,” said Jabbour. “We listened to residents and worked collaboratively with the City Council, to make difficult but necessary decisions."

Council President Ruben Ramos said, “That openness has helped us identify some tough financial decisions that we will still have to come together to make. In the weeks ahead, the council will review the budget, consider amendments, and work toward a final vote ."

On Monday, Jabbour said no one new would be hired in City Hall, listing a few positions that will remain unfilled: police inspector, some police officer roles, two laborers within the Department of Infrastructure, administrative positions in the Municipal Court office, and Director of Community Services.

This will save as much as $600,000, she said.

Budget Basics

Hoboken had approved its $150.2 million budget for 2025-2026 last August, with a 4.5 percent tax increase.

The next budget will cover the 2026-2027 fiscal year.

Jabbour said that the city has had to use its surplus to cover rising mandatory costs, such as health insurance for city workers and police and firefighters.

You can watch past and future council meetings on Facebook here.