Hoboken has proposed a $118 million budget for 2019 that would come with a 2.7 percent tax hike if finalized by the City Council.

A homeowner with an average assessment of $522,500 would see a $74.57 municipal tax increase, in addition to any potential county and school tax hikes.

That’s $27 more than the administration had been planning when it submitted a different budget to council members last week. The council declined to vote on that proposal because it included $1.2 million in expected revenue from parking fee hikes that are set to be rolled back after public outcry. The city now expects those fees will bring in about $600,000 this year.

The council introduced the budget at a special meeting on Wednesday. It plans to host three budget workshops in upcoming weeks in anticipation of adopting the plan later this year.

The new proposed budget includes a roughly 1 percent increase in spending from 2018, which administration officials credit to hikes in pension, salary and waste disposal costs. Sanitation carting costs are largely responsible for a $565,750 rise in operating expenses for the Department of Environmental Services, the city told council members in a memo on Wednesday.

The first budget workshop is scheduled for Thursday, April 4 in the council chambers at City Hall from 6 to 9 p.m.

Terrence T. McDonald may be reached at tmcdonald@jjournal.com. Follow him on Twitter @terrencemcd. Find The Jersey Journal on Facebook.