Sunday, November 8, 2009
GOOD NEWS OR WHAT
Revenues from many local taxes are beating expectations. That’s good. Just ninety days into the fiscal year the city is projecting revenues to exceed expenses by about $823,000. And the city expects more money than it budgeted for nearly all taxes on restaurants, hotels and sales, and increased tax revenue because the population is expanding. Many local businesses know there is a recession, not surprising is that the downtown Hilton Garden revenue was down 27 percent from a year before; while new hotels in North Suffolk expect record lodging taxes. The city lost 81 businesses last year; that did not help the tax picture. Sales tax was down in the first quarter this year but receipts were better this September than they were for that month the two previous years. "This is good news for the retail recovery," Treasurer Williams said. Good news for the rest of us would be a few cents off the assessment rate per hundred.
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4 comments:
With most all cites, towns and states crying the blues about not having enough money how on earth does Suffolk have more than it knows to do with? Is Suffolk the best managed City in America or are the tax rates and fees, along with the growth in Suffolk, more than is needed?
Does anyone trust what they hear in the media or their government. If they do then I have a bridge in Chuckatuck I'd like to sell them. In a couple of months the revenue figures will be adjusted/corrected and otherwise used as an excuse to raise taxes. Always remember the people sitting on this city council have eyes on your money, their re-election, personal monetary gain and nothing else.
Shortly after VE-Day my father went to a restaurant in London to enjoy a big English breakfast. He ordered eggs, ham and baked tomato, toast and links of sausage. The Waiter looked at him paused and said; "Excuse me Sir, although the war is over, the peace has yet to begin." So don't expect too much from our little secretive city as far as tax relief is concerned.
FUZZY MATH? Darn pesky decimal points. You never know with them.
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