With the state’s assistance and supervision, the Hoboken City Council last week voted five to three to pass a long-awaited and contentious $92 million budget for fiscal 2008, which ended on June 30.

Officials will now push the city’s $10.5 million deficit into fiscal 2009 by raising property taxes over the next four quarters as opposed to generating all of the needed revenue in the final 2008 tax bill.

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