Coral Gables 2011 Budget–First Impressions
July 14, 2011 Leave a comment
My first impression in one of some relief that the city manager is proposing a tax rate reduction–actually it is a tiny reduction, so let us call this holding taxes that same as last year.
My second impression is that this budget is very expansionary by making such a small reduction in taxes.
The city took from us quite a large increase in taxes last year, so one would have hoped that the city would have given that increase back, just like Miami-Dade county.
We would have hoped for larger staff reductions and operating cost reductions at this time.
Therefore, tied with the proposal for a large investment program that will have to be repaid in 20 years (instead of the refinanced debt in four years), this is a very agressive expansionary budget that will come back to bite use in the coming years.