County Facing Revenue Shortfall

The county budget is in rough shape, Rachan Dixit writes in today’s Progress. Sales tax and personal property tax revenues are down 6.6% and 4.8% respectively, leaving Albemarle with a $4.7M shortfall. That’s worsened by the governor’s recent budget cuts, leaving the county $600k short on expected state funding. Short of a spectacular improvement in the economy in the coming months, the debate over taxation and spending should be particular contentious come spring. If this seems familiar, it’s because the same thing happened last year.

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