City Foresees Financial Trouble

At last night’s Council meeting, City Manager Gary O’Connell warned that the city’s finances are altogether too dependent on real estate tax revenues, which he described as unhealthy and bad for the market. O’Connell advocates a 5% limit on new real estate tax revenues and raising other fees and taxes in order to compensate. O’Connell’s suggestions normally come along with the issuance of an annual financial report to Council, presented each November, but he felt that the urgency of the situation necessitated some earlier notice. Elizabeth Nelson has the story in today’s Progress.

5 Responses to “City Foresees Financial Trouble”

Comments are currently closed.