If you are worked up about the forecast tax philosophy, simmer down. The budget situation is so fluid that in between the work session and the Council adoption of the forecast, the numbers changed markedly. One of the variables in the forecast was that commercial property valuations would be flat. This week the estimate is that those values will fall about 5%.
The question isn’t if we will spend less money, the question is becoming how much. We have tremendous exposure to state budget cuts as well. Stay tuned.
October 31, 2008 at 12:31 pm
When it rains it pours?
I don’t envy you guys, this is gonna be a TOUGH budget cycle.