From yesterday's News-Gazette:
Sales tax represents almost half the city's operating money, and Champaign has come to expect a 4 percent increase in sales tax revenue every year, Schnuer said.
"This year, it's coming in at 2 percent," he added.
And:
Schnuer said the upcoming year's budget proposal doesn't call for any new taxes or fee increases, but it does recommend two new fees – one a fee on builders for erosion control and the other to cover the cost of inspecting multifamily residence common areas, Schnuer said.
Discuss.
I think it will be interesting to see this budget presentation. Will the City do what private citizens are having to do in light of rising food and energy costs? Will it hold the line on expenses, ask its employees to forgo raises, or maybe take smaller raises? Will it now do away with such luxuries as employee appreciation lunches, conventions, etc? People are really struggling to pay their bills, including taxes, and it only seems fair that the City and its employees share the sacrifice that their citizens are expected to make.
My taxes this year are going up about 2 percent (for all the taxing bodies.) That's less than the rate of inflation. I can live with that. I'm going to stop bitching about real estate taxes. (Until next year.)
My real estate taxes actually went down this year by about 150 bucks....No complaints here
Sales tax shortfall (well, not as much growth as expected) results in budget cuts - remember that when we start talking about spending the school sales tax revenue.