Tuesday, May 5, 2015

City Manager Presents Tax Increase for FY15-16

"...Greensboro City Manager Jim Westmoreland presented a $487 million (all funds) recommended budget for the 2015-16 fiscal year.

...to offset future regulatory issues, and water and sewer infrastructure and replacement costs, water rate increases of 5.5 percent for City residents and 8 percent for non-City residents are included.

Tax increase.

In terms of general fund revenue for FY 15-16, the City is factoring in a 1.58 percent growth in property tax and 4-5 percent increase in sales tax revenue.


...Approximately $440,000 in maintenance for City parking facilities is proposed to be funded through increases to on-street, surface lot (between 25-50 cents per hour increase) and monthly parking rates ($10 per month increase).

Tax increase.


The newspapers will say no tax increases, 
even though there will be tax increases.

Those who believe this isn't a tax increase 
are mistaken and misled by a compromised press.

Those City Council members 
who say this isn't a tax increase 
are misleading the electorate in an election year.

"The Shanghai Containerized Freight Index (SCFI) that tracks shipping rates from Shanghai to Northern European ports plunged 14% from last week to $399 per twenty-foot container equivalent unit (TEU), down a vertigo-inducing 67% from the glory days just a year ago. It was the 11th week in a row of declines, and it set a new all-time low."