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Hoboken's School Budget Surges by $16M
Description
Hobokens Board of Education approved a significant budget increase for next year, totaling $104,848,335, a 16.4 million dollar jump from last year. The primary factors driving this increase are a 27% rise in the school tax levy, surging healthcare costs, and increased charter school payments. For the average Hoboken homeowner, this translates to an additional $822.60 in school taxes annually. The city faces a $17 million municipal deficit, exacerbating the tax burden. State aid only marginally increased, and the budget includes plans for revenue boosts through grants, private partnerships, and facility rentals. Public feedback is welcome via email ahead of the May 5th public hearing and May 12th final vote.
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