Popular Searches:  AIG  china  sunamerica+aig  LIFE  financial  health

Aldermen continue tax levy talks

 

Monday, Nov 23,2009, 11:09:28 AM   Click:

Aldermen will consider ordinances relating to the tax levy and budget plans to increase the city's sales tax 1 percent, decrease the food and beverage tax by the same and increase the rental registration fee from $10 to $20.

Mayor Scott Eisenhauer said aldermen will determine if there is an increased or eliminated cap on the rental registration fees.

The tax increases are to help the city cover a $1.7 million deficit and earmark additional general fund and infrastructure fund reserve money. This will help with the upcoming replacement of the Fairchild Subway and other emergencies.

In addition to the 4.63 percent tax levy increase, there also will be more than $400,000 in city budget cuts, in addition to health insurance increases for city employees.

Eisenhauer doesn't foresee additional general fund increases in revenues or implementation of new revenues during the next three years.

He also still supports a third party review of the city's various budgets, as recommended by aldermen.

"We have nothing to hide. Our books are open," Eisenhauer said.

Eisenhauer previously proposed a utility tax, which some aldermen support, instead of the $420,000 in more budget cuts.

But he said, "We're not pushing that at this time."

Next year, however, Eisenhauer would suggest prohibiting the property tax rate from going over $2 per $100 assessed valuation (it may go up to $1.97 from $1.88 per $100 assessed valuation this year due to fire and police pension increases) by implementing a revenue source (utility tax) to abate the police and fire pension increases.

COMING UP

The city council's Public Services Committee will meet at 6 p.m. Tuesday at the Robert E. Jones Municipal Building, 17 W. Main St.

  • Print

You may also be interested in:

Discuss this news

Click Here to see all comments
Please aware of self to obey the Internet related policy laws and strictly forbid to release porn, violence.
Appraisal:

Name:

Email:

Content:

Featured

The current debate over health care reform has spawned town hall meetings all across the country and political jockeying all over Washington, D.C. What it hasn't seemed to include as often is the

Coalition Says Public Health Option Would Lead to

The current debate over health care reform has spawned town hall meetings all

Basking Ridge, NJ - (MARKET WIRE) - 04/15/09 - Hooper Holmes (NYSE AMEX: HH) today announced that it has considered the proposals contained in the preliminary proxy statement filed by Ron Aprahamian,

Hooper Holmes responded to the proposal of

Basking Ridge, NJ - (MARKET WIRE) - 04/15/09 - Hooper Holmes (NYSE AMEX: HH)

SCHAUMBURG, Ill.--(BUSINESS WIRE)-- Zurich, a leading property and casualty insurance provider in North America and globally, announced today it is now offering general liability and umbrella

Zurich now offers three new insurance programs for

SCHAUMBURG, Ill.--(BUSINESS WIRE)-- Zurich, a leading property and casualty

My colleague, Emmett Higdon, wrote an article recently on how banks can increase customer adoption for paperless statements. He found that an average of five out of 10 online checking, savings, and

Insurers Go Green and Turn Off Paper Statements

My colleague, Emmett Higdon, wrote an article recently on how banks can

Newport Beachs Pacific Life Insurance Co. has been on a wild ride with its investments in the past year but its mainstay life insurance business appears to be holding up. Parent company Pacific

Insurer Pacific Life Sees AIG Hangover, Policy Sales

Newport Beachs Pacific Life Insurance Co. has been on a wild ride with its

Humana Military Healthcare Services, a wholly owned subsidiary of Humana Inc. (NYSE: HUM), encourages TRICARE South Region beneficiaries to get their influenza vaccination in an effort to reduce the

Humana Military Healthcare Services Promotes Flu

Humana Military Healthcare Services, a wholly owned subsidiary of Humana Inc.

International general insurer Axa S.A. [85085] said it has tied-up with the takaful and retakaful group Salama Islamic Arab Insurance Co. [78342] to provide group life solutions, including death and

Axa, Salama Team Up for Group Life Solutions in UAE

International general insurer Axa S.A. [85085] said it has tied-up with the

MOST POPULAR