Councilwoman Mason Speaks Up About City's Surplus

On Friday morning, Second Ward Councilwoman sent out a release, urging the city to "return" the city's nearly $20 million surplus to Hoboken's tax payers. 

In total the city has a $19.9 surplus, according to the 2010 Fiscal Statement. A chunk of that money has already been allocated to specific costs (such as outstanding bills), which still leaves the city with a $11.3 million cash surplus. 

When asked last week, Liston said that there will be no real tax relief in the upcoming 6-month budget that the city will propose during the first council meeting in September. 

"This surplus belongs to you, the taxpayers," Mason wrote. "I am calling on Mayor Zimmer to return this money to you immediately in property tax relief."

Liston said that the first time Hoboken will see some tax relief will be in the 2011 budget, when the city will have switched to a calendar year, rather than a fiscal year.