Roll Call: Latest News on Capitol Hill, Congress, Politics and Elections
July 24, 2014

Fiscal Problems Continue to Plague Cities

“Buffeted by steep drops in state aid, rising pension and health-care costs and sluggish property-tax revenue,” a Wall Street Journal analysis finds that “many urban centers are struggling even several years after the financial crisis.”

“Of the 250 cities, more than half still have reserves below their 2007 levels. They also have taken on more debt: 114 cities saw overall debt loads increase from 2007 to 2012. The real-estate markets in 100 cities are still worse than they were in 2007, an acute problem for governments that rely on property taxes as a top source of revenue.”

 

  • john hall

    If there are problems plaguing the cities, it is due to WHITE FLIGHT, and the significant tax base they take with them. You can’t get blood from a stone, and you can’t get maximum dollars from poor people.

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