September 14, 2008

Nick K

Good story today, click here. Mall is currently assessed at 2.1 million?? Starting to get very concerned about city finances:
  • tax collections need to be slow from all the foreclosures
  • ever increasing non-profit tax base
  • next assessment will surely have much much lower assessed values
  • the airport amongst other issues
  • sewer madates
  • the beattle

What really is starting to worry me is the Commonwealth's finances and our reliance on local aid. I am quite familiar with the new health reform legislation and I know it is costing much much more then expected and the increase tax on cigarettes is not filling the gap. Throw in the slowing Massachusetts economy and the cost of the big dig, I am expecting a the announcement of a big deficit after the elections of course thus a cut in our local aid.

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