As promised during the campaign, I will stand up to President Trump when policies from Washington hurt Hoboken residents. With the passing and signing of the new federal tax plan by red-state Republicans and the President, New Jersey residents are likely to pay substantially more in federal taxes due to the combined $10,000 deduction limit on property, state, and local income taxes. Previously, there was no limit on any of these deductions.
It is disappointing that so many residents in Hoboken and around the country will be directly impacted by the choice of national Republicans to give tax breaks to corporations and the wealthiest 1% in this country with no direct relief to middle class and working families. This tax plan has the potential to affect Hoboken and New Jersey’s affordability for years to come.
Although I do not get sworn in as Mayor until January 1, I have already begun working with our local and state officials to determine how we may be able to help mitigate this latest assault from the President.
To that end, I wanted to let you know the City is now accepting pre-payment of property taxes for 2018 by the end of this year to help reduce the impact of the new law. Below is the information from the City regarding this process and the extended hours this week for the City’s tax office.
The City of Hoboken Tax Collector’s Office has been accepting pre-payment of property taxes from those who wish to do so. As of this time, the City has only issued tax statements for the first two quarters of 2018. The 3rd and 4th quarter amounts will not be known until 2018 budgets have been adopted, however the City will accept payments from those who wish to pay more than the 1st and 2nd quarter taxes.
Payments can be made online at http://hobokennj.gov/
To ensure that payments made by check are deposited and cleared by the end of the year, checks should be received no later than Thursday, December 28th. Include the block and lot number and indicate it is for 2018 in the note section to avoid a refund for overpayment of taxes.
The Tax Office will be open extended hours until 7:00pm on Wednesday, December 27th and Thursday, December 28th.
Ravi S. Bhalla