Understand that the only reason the budget outline Charlotte City Manager Curt Walton dropped the other day did not raise the property tax rate is that debt service was raided in order to pay for operations.
Six tenths of a cent worth $4.5m. that used to go toward debt and capital projects has been re-directed to the General Fund. This move, along with firing ghost employees, a hiring freeze, and hiking water and sewer rates yet again should be enough to muddle through this election year. But absent real change and reform of how the city does business, a property tax hike looms in 2010.
Bonus Observation: It is measure of how fat and happy city revenues have been that sales tax revenue could fall 10 percent to $42m. in FY10 and still top the $39.9m. collected way back in 2007.