Back of the Envelope

If the GASD faces a $5 million shortfall with $1.5 million in reserve, assuming that the GASD depletes 100% of its reserve(highly unlikely that they would and should apply 100%)  and keeps top line budget equal to last year at $57.6 million with an $18.4 million  property tax base, the baseline tax levy increase will be:
($5-$1.5)/$18.4million = 19.0%
Remember that last year with a zero percent tax levy increase, because of equalization, city taxes rose 3.6%. This suggests, again assuming comparable equalization, a city tax increase above 20%. I’m going to note a caveat that the city tax rate may be less if it is equivalent to the recent county tax equalization whereby city taxes went down. I don’t have the numbers to know for sure but noting it upfront.
And by the way, let’s remember that ‘protecting seniors’ by advocating against the Bacon sale to the WPHO would have meant that the baseline tax increase would be:
($5-($1.5+.45))/$18.4 million = 16.6%
See how we protect seniors and assure proper religiosity in our public life? By raising the effective tax rate on seniors. And everyone else.
Brilliant.

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