Dear Editor:
Hoboken’s taxes keep going up, even as its tax base is shrinking. While there may be more apartment buildings today, there are 1,500 fewer jobs than there were in 1970. Workers generate tax dollars for the city while costing much less than residents.
The share of tax revenue paid by businesses in Hoboken has decreased by 20 percent since 1988, leaving residents with a greater burden today for services. A mere 1,000 square feet of office space creates 2.8 jobs in the city while the same amount of retail space generates 1.7 jobs. Workers use fewer city resources than residents, while commercial ratables reduce the property tax burden for those of us who live in Hoboken. That means more offices and shops in Hoboken can help provide services for residents without costing taxpayers any more money.
Why would we not support bringing more commercial space to Hoboken as a result? A new office building won’t require more schools, and when the workers go home, they won’t use Hoboken’s parks either. But office workers can help pay for all of these services so residents don’t have to.
Diversifying Hoboken’s tax base will result in homeowners paying less while continuing to enjoy the level of service they expect.
Laura Knecht