Recession Taking A Bite Out of City Budgets
1 September 2009 - 2:00pm
A new report from The National League of Cities shows that declining property and sales income is impacting city coffers, resulting in layoffs and cuts to construction projects.
Sales tax income is down across the nation by an average of 3.8%.
"Overall city revenues declined by 0.4%, even as expenses rose 2.5%, and city officials expect steep drops in tax collections in the next two years, making for the worst outlook in the 24 years the group has been surveying its members. Western cities were particularly downbeat."
Source:
The Wall St. Journal, September 1, 2009
»
- Login or register to post comments
- Email this page
- Do Not Let There Be Light - Aug 28, 2009
- The Dwindling, and Highly Necessary, Property Tax - Aug 05, 2009
- Rethinking Tax Abatements - May 31, 2009
- Commercial Vacancies Hit Tax Rolls Hard - Mar 11, 2009
- Booming Burbs Stop Growing - Nov 21, 2009
“
In short, we’ve seen the last of the cheap oil on which we’ve built our economy, our communities, and our daily lives.
”
















