The Governor has started talking about a well known expectation - the budget deficit looks to at least be $6-$7 billion dollars. The Budget that was presented a few weeks ago balanced a $4.8 billion dollar deficit. This will lead to even more cuts and I would anticipate more cuts to local governments as a result.
The other ticking time bomb is property devaluation that will slash property taxes flowing into Cities, Counties and Schools. If this does happen or when it happens there will be another round fiscal issues facing us. I have been taking this into our budgeting process as we look at long term financial decisions and make sure we do not incur long term cost we can not afford.
About Me
- George
- I have served the City of Isanti as Mayor since 2007. We have accomplished great things together and I look forward to building on our success. United, we move forward to a better future. You may contact me at 763-442-8749 or e-mail me at george@georgewimmer.com.
2 comments:
I would expect a big reduction in property taxes on my house.My house went from a 235,000 value to about 160,000 in the 30 months I have had it.There is no way I will will pay $2900 tax on a house that is worth 160,000.Matter fact if next years taxs are $2900 again the bank will get my house.
And I have super good credit and have made my houses payments on my 225,000 loan.
Yes, property valuation should definately decrease in next years cycle.
The county actually tried to increase my value this year until I called them on it. I told them if anything it should be DEcreased. We came to agreement that if the value didn't change I wouldn't fight further for the decrease. Next cycle, it better go down as the market did.
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