Thursday, April 30, 2020

What's in Nashville Mayor John Cooper's budget proposal?

The Tennessean - … But Cooper's budget makes the scale of the crisis clear, even if the particulars aren't. Cooper proposed a 32% property tax hike to bring in $332 million to help cover:

  • $216 million in lost net revenue; 
  • $100 million in funds to rebuild Nashville's savings; 
  • and $16 million in needed spending increases. 
The total was even more, with $57 million for operational needs and $6 million in required debt payments, but the city offset that with $48 million in reductions.

 … Things could get worse... Slower recovery could cost up to $40 million more. If a secondary spike of the virus in the fall, around flu season, requires more stay-at-home orders, it could cost the city more than $110 million. (link)

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