HUDSON COUNTY — Certain urban towns in New Jersey are eligible to charge a low 3.5 percent sales tax in order to lure shoppers to their business districts. These “Urban Enterprise Zone” towns also get state funds from the state sales tax, which come back to the districts for beautification and public safety projects.
Right now, towns in Hudson County like North Bergen and Union City already have UEZs, but neighboring towns with higher average per capita incomes, like Hoboken and Weehawken, do not.
This may change soon.
The matter may be irrelevant, as this year, Gov. Chris Christie froze those UEZ funds to urban towns … but a bill that passed in the general Assembly on Monday may also let Hoboken and Weehawken participate.
Assemblyman Ruben J. Ramos’ bill A2572 successfully passed the New Jersey General Assembly by a vote of 52-25-1.
This bill allows a municipality that is adjacent to two or more municipalities which are designated as UEZs, to receive assistance from the New Jersey Redevelopment Authority.
Assemblyman Ramos, a Hoboken resident, said, “This bill will offer a positive impact for both Hoboken and Weehawken, as both municipalities border two Urban Enterprise Zones. As the State experiences a budget crunch, we are excited by the prospect of additional funding for qualifying municipalities in the district.
“This legislation will be extremely beneficial for the City of Hoboken while we continue to advance legislation to designate the Mile Square City as an Urban Enterprise Zone,” he said.
The bill was passed by the Senate and now heads to the governor’s desk to be signed into law.