Coral Gables Environment, Politics and Government
December 8, 2010 Leave a comment
Baker’s bad news includes up to $400 million more in state Medicaid expenses and $150 million less in school property tax collections due to a 1.2 percent drop in real estate values than previously predicted for 2011-12.
via Florida’s 2011-12 budget outlook getting gloomier – BusinessWeek.
December 8, 2010 Leave a comment
For those who think that the tax cuts will doing something great, you can read this. Or this is for those of you think that Obama’s negotiation was ok (admittedly there are few Obama supporters in Coral Gables).
…Killing the tax cuts would alone reduce the national debt by roughly as much as the deficit commission’s entire proposal. And killing the tax cuts was the path of least resistance. Obama could have done it by doing nothing. Or he could have done it by taking a strong negotiating position and being willing to walk away from the table.
December 8, 2010 Leave a comment
This describes a Florida, Miami-Dade and Coral Gables that will face more property tax declines. Unless governments keep reducing outrageous public salaries and benefits and control other spending and staffing, Coral Gables’ taxpayers will have to pay more next year, without doubt.
This is a strong reason to bring in a new mayor and commissioners.
Jobs growth is anemic, she said, and the housing market is still in the tank. Florida’s gross-domestic product was 45th in the country in 2009, and dead last in 2008. In comparison, Florida’s GDP was fourth-best in the country in 2005.
Personal income has been slowly growing since the second quarter of 2009 in Florida, but the state still ranks only 37th in this category. The state’s October unemployment rate of 11.9 percent was the nation’s fourth-worst, and population growth is nearly flat.
At the same time, existing home sales are slowing, prices are flat and Florida had the second-highest foreclosure rates in the country in October. Cape Coral-Fort Myers had the second-highest number of foreclosures among metro markets in the country in October, Miami-Fort Lauderdale was the seventh-worst, and Orlando-Kissimmee was the 10th-worst.
“It is still very slow, a very gradual recovery,” Baker told the Senate Budget Committee Tuesday morning, cautioning that Florida’s time frame for an economic rebound would lag the national picture “because it’s driving both our tourism and our population growth.”
December 8, 2010 Leave a comment
If I was the city of Coral Gables I would plan for the worst revenue situation. Taxpayers, take notice–the city will hit you again next year.
A legislative economist told the Senate Budget Committee on Tuesday that she expects a predicted $2.5 billion budget gap to widen because Florida’s economic recovery has been slower than forecast.
The panel’s chairman, meanwhile, hinted that Gov.-elect Rick Scott’s campaign promises for deep spending and tax cuts may run into trouble in the Legislature.
via Florida’s 2011-12 budget outlook getting gloomier – BusinessWeek.
Coral Gables Watch 