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Cities Brace for Prolonged Bout of Declining Tax Revenues

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THE DAYS OF DOGCATCHER PERKS HAVE COME TO AN END
City revenues declined by 0.4% last year as expenses rose 2.5%, and city officials expect steep drops in tax collections in the next two years, making for the worst outlook in the 24 years according to a National League of Cities report. "The gloomy mood "is indicative of the depths of the downturn, that they have the worst ahead of them, and the fact that the recession is universally hitting their revenue sources," Chris Hoene, research director for the league, told the Journal.

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