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Yes, that. But even cities experiencing growth aren't likely to get a pass in the short term. Austin has had massive growth but what happens when sales tax, ho
by caseysoftware 6y ago
Yes, that. But even cities experiencing growth aren't likely to get a pass in the short term.
Austin has had massive growth but what happens when sales tax, hotel taxes, fuel taxes, local income taxes (not in Austin but other places), etc all take a massive hit all at once?
With canceling SXSW this year, they're projecting there was an immediate $30-50M tax revenue hit and hotel occupancy is still ~4% when it's normally 70%. Sure, there's less wear and tear on infrastructure but they don't cancel out.
Fundamentally, it looks like most cities are living "paycheck to paycheck" like a good part of US..
- yellowapple 6y ago> Fundamentally, it looks like most cities are living "paycheck to paycheck" like a good part of US.. Governments in general (and the departments/agencies thereof) tend to live "paycheck to paycheck" specifically because they're typically discouraged from saving a whole lot of money; there's almost always a "spend it or lose it" mentality (whether informal or actually codified in budget policies) that instead encourages spending every last penny of funding received lest whoever's in charge of the budget decide "well they're running leaner than expected so let's slash the budget to what they're actually spending and turn that into a tax break".