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City Tax Passes What's the New Rev Forecast?

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John Beagle View Drop Down
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    Posted: Nov 10 2017 at 1:23pm
Well there are sunshine laws but by the time I get anything started the city will have their meeting and we will have our revised projections.

I think the city should have provided new projections prior to the vote. But that's just me, I'm funny like that... Wanting to see how much money the new tax brings in before voting is just plain silly.

Wink
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Post Options Post Options   Thanks (0) Thanks(0)   Quote ClarkWestern1 Quote  Post ReplyReply Direct Link To This Post Posted: Nov 09 2017 at 6:51pm
Took a page from Nancy Pelosi's playbook-"We have to pass it before we know what's in it"
"Just spittin out words to see where they splatter."
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Post Options Post Options   Thanks (0) Thanks(0)   Quote John Beagle Quote  Post ReplyReply Direct Link To This Post Posted: Nov 09 2017 at 2:26pm
This surprises me because if you are going to raise taxes don't you have to have a forecast? Otherwise how do you know the revenues implications of a given tax increase?
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Post Options Post Options   Thanks (0) Thanks(0)   Quote John Beagle Quote  Post ReplyReply Direct Link To This Post Posted: Nov 09 2017 at 12:43pm
Originally posted by zapp2525 zapp2525 wrote:

The income tax didn't really affect that many people that live in Monroe I bet 

That is correct. If you live in Monroe and work outside Monroe you don't have any change on your taxes.

However this is about how much more will the city bring in from the tax increase. 

Note: This is not an official estimate from the city, only for illustration purposes



I asked Assistant City Manager Kacey Waggaman, she had this response:

"Working on it.  [City Manager] Bill [Brock] will be starting budget discussions with Council on Tuesday."

I will post updates on this.
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zapp2525 View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote zapp2525 Quote  Post ReplyReply Direct Link To This Post Posted: Nov 09 2017 at 12:18pm
The income tax didn't really affect that many people that live in Monroe I bet 
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Monroe News Quote  Post ReplyReply Direct Link To This Post Posted: Nov 09 2017 at 10:42am


Income Tax Collections from 2016 report

Revenue from local income tax continued to grow in 2016 due to new development throughout the City. Income Tax revenue increased 12% from 2015 to 2016, resulting in an additional $970,293 collected revenue. Income tax revenue for the City is expected to remain strong in the near future as our industrial areas continue to see steady growth and development. - Source 2016 State of the City Report

Now that the city income tax increase has been passed, how will that impact the future forecast? 


With only 2230 votes out of a population of over 13,473, does anyone really care? We have few voters and fewer candidates.


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