Dear Editor: For all your readers who are confused, bored or could care less about the municipal budget, please take five minutes to read this letter. Question 1: Why is the parking authority building a monstrous $10 million automatic parking garage in the heart of a residential neighborhood? Answer: Because in 1994 City Hall needed cash to fill a budget gap and Mayor Russo forced the parking authority to buy this parcel of city-owned land at 916 Garden Street for $2.2 million, far in excess of its market value at that time. Question 2: Why, during the past seven years, hasn’t the parking authority acquired any land around the perimeter of the city for the purpose of building parking garages? Answer: The parking authority=s capital reserves and debt capacity have been depleted by the 916 Garden Street garage and by payments in lieu of taxes (PILOT’s) to City Hall. Question 3: Why does the parking authority, a non-profit tax-exempt government agency, make PILOT’s to City Hall? Answer: Because City Hall needs the money to plug its “structural” deficit. Question 4: Why doesn’t the city exercise its considerable power of eminent domain to secure land for parking garages in the blighted northwestern section of town? Answer: Because the Russo administration would rather use that power to secure land for private developers to build massive residential projects instead. Question 5: Why is City Hall hell-bent on overdeveloping our little mile-square city? Answer: Because this administration has an insatiable need for more tax ratables to generate more tax revenue to fund more city jobs and salary increases for its political supporters. Question 6: Has the tremendous growth in tax ratables resulted in lower municipal taxes? Answer: No. Hoboken=s tax base increased by $171 million last year, impressive growth indeed. These new ratables generated $1.4 million of additional municipal tax revenue. The FY2000 budget recently approved by a majority of the city council calls for an increase in spending of $4 million (excluding the reserve for uncollected taxes). City Hall continues to spend more than it earns and the municipal tax levy continues to rise. Also, our share of the county tax bill keeps rising because Hoboken’s tax base is growing faster than our neighboring towns. Question 7: Has the tremendous growth in tax ratables provided any municipal tax relief? Answer: No. Contrary to City Hall’s propaganda, there was no municipal tax cut last year and it is doubtful that there will be any tax cut this year. The official municipal tax rate submitted to the county is $7.90 per $1000 property value, exactly one penny lower than the previous year. Don=t be fooled by politicians playing with “estimated” tax bills. Homeowners will know the truth about their property taxes when they compare their 3rd and 4th quarter 1999 tax bill with their 1998 bill. My municipal tax “cut” amounted to $3.05 – what was yours? The only tax benefit associated with Hoboken’s growth has occurred in our school taxes. The total school tax levy has remained constant and is now spread over a larger tax base resulting in a lower school tax rate. Bottom line: All the bad policy decisions and patronage practices of our elected officials are factored into the municipal budget, and one way or another, they impact your pocketbook. Consider this as you circle the block endlessly searching in vain for a parking spot. Phyllis Spinelli