The legislature’s Appropriations Committee today has reversed some of the cuts in Governor Dan Malloy’s budget proposal factored into Mayor Bill Finch’s spending plan currently before the City Council that includes a 2.5 mil tax increase representing a $400 tax hike to the average homeowner. City bean counters and council members have been holding their breaths hoping the legislature’s budget-writing committee would save the city from a larger potential tax hit. Roughly 40 percent of Bridgeport’s budget revenue comes from the state.
Specifically the committee restored some of Malloy’s proposed cuts for the Payment In Lieu Of Taxes (Pilot) Program that reimburses the city some revenue on tax-exempt properties such as hospitals and state government buildings. In addition the governor sought to eliminate revenues to municipalities apportioned by the state’s slot take from Connecticut’s two tribal nation casinos.
City bean counters are trying to calculate the restoration of cuts–assuming they hold up in the state budget process–to provide the City Council’s Budget and Appropriations Committee guidance in its budget deliberations. The restoration of cuts represents millions of dollars. Finch has said the governor’s budget forced his hand to propose a $2.5 mil tax hike.
The council is expected to vote on the budget in about two weeks. The budget then goes back to the mayor for possible veto action until the council sets the mil rate in June for the budget year that begins July 1.
Oh goody! This means the City Council’s job has been halfway done for them (or more than halfway). Now it should be easier for them to find expenditures to cut to keep from increasing the tax burden on Bridgeport’s already maximum-taxed property owners!
Where did OIB get this bag of horseshit? Lennie, get back on your meds!
If you’re happy and you know it, share your meds … ( clap clap)… 😉
If the legislature’s proposal becomes law they will have made the Mayor and Council’s budget jobs easier. Now it’s time for the Council to cut spending by whatever it takes to avoid ANY tax increase. We are already overtaxed and receive poor value for the level of taxes we pay in Bridgeport.
Nobody wants to raise taxes–especially Bridgeport’s Mayor. However, our national debt burden is so high it’s impeding America’s recovery and its economic development. No city has been hurt more than Bridgeport, which cannot print its own currency. Our national debt is a giant sucking machine draining this country of its resources and forcing us to send money overseas each month. Understanding the direct connection between our national debt and Bridgeport’s finances is what initially drew me to this blog.
Here’s why I’m writing: unlike a local tax increase, which is a one-time event, our national debt accrues interest and won’t disappear until it’s paid off or is inflated away. BTW, America’s debt is increasing at a faster rate than Bridgeport taxes are rising.
Local Eyes,
Unfortunately, local property tax increases are not one-time events. They are forever. Property taxes are up 26 percent under Mayor Finch and he is the one who is asking to increase them again. He is also the one who recently said “property taxes will never go down in Bridgeport” in a Black Rock meeting. I am very familiar with the federal, state and local government’s financial problems. They all are in bad shape and need serious transformational changes. It’s time for Mayor Finch and the City Council to get on with it and quit blaming others.
Until I read a book called Comeback Bridgeport, I will remain convinced America’s finances determine Bridgeport’s options. Tax increases are not set in stone. 1965 was the year America made the worst trade in modern economic history. Our $15 trillion debt is the largest perma-tax in history and is our biggest threat. The ink has dried on contracts that limit the Mayor’s choices and that’s why you’ve shifted your priorities from America to Bridgeport.
Good to know. It’s not the Calamarians’ fault after all. The reason we are mired as we are is the federal government’s fault. Thank God. I thought the onus was on Mario and Paul.
*** Why is it year after year the Mayors proposed budget has become so dependent on what the State cuts or doesn’t cut? Is it the city’s operational mismanagement and growing debtamd responsibilities along with its continued overspending and borrowing compounded by low incoming revenue that puts taxpayers as the main source to carry the city’s financial burden? For every P/R’s economic development step forward this admin claims, it actually turns out to be two steps backward in the end. And year after year, the B&A committee goes through the same budget motions with little to show in significant changes that would halt the need for any tax and mil rate hikes. Stop pretending already and give the proposed budget back to the Mayor with a vote of “no contest” and let him deal with it and take the blame too this election year. Then next year use some of that city legislation money and hire an experienced independent accounting firm to work with the B&A on the city budget. *** DO THE RIGHT THING! ***
… May Rescue City From Higher Tax Hit?
Are you sure about that, Lennie? The devil is in the details. Folks may want to pay closer attention to the proposal to end local taxes on personal motor vehicles. Based on my understanding, this proposal is not getting a five-year delay–the plan is to phase out the tax in five years, starting next year. This means starting next year, Bridgeport will have to find a way to make up for a $3.4 million shortfall every year for the next 5 years assuming the tax brings in $17 million per year. Malloy and Bridgeport are playing kick the can or should I say kick the car tax. How can we achieve our goals without pissing off the taxpayers so close to our re-election, is the question Bill Finch, Bridgeport City Council members and Dan Malloy have been pondering for the last few months.
“The Democratic budget doesn’t ignore Malloy’s proposal to end local taxes on personal motor vehicles, but would delay it for five years …”
Read more: www .ctpost.com/local/article/Panels-review-Malloy-s-44-billion-budget-4447355.php
There are common challenges at all levels of government that need to be addressed. For example, huge unfunded retirement obligations, too much spending on consumption and not enough on investment, outdated governance models and tax systems, and too much focus on today rather than doing what it takes to create a better tomorrow. It’s a lot like getting in shape physically, it takes hard work, discipline, and persistence–some short-term pain in order to achieve much greater longer-term gain. It also takes committed, inspired, credible, capable and transformational leadership. True leaders don’t blame others for their problems, they influence events rather than react to them. They also demonstrate patience, persistence and experience pain before they prevail. It’s not rocket science.
Nothing makes me happier than putting yahooy on the “right side of reality.”
(wink)
www .twitter.com/door24
How come none of the Kaffee klatchers are talking about the low-hanging fruit thst will not affect basic city services one bit … namely firing unnecessary patronage positions like Finch’s PR staff and numerous other wastes of money. Like giving out free pens at city meetings. Stuff that may not make a huge dent in the budget shortfall but may prevent laying off necessary personnel like cops, teachers, firemen and DPW.
Your eavesdropping skills need to be honed if you think the Koffee Klatchers are not discussing cutting that kind of fat …
Coming over to Harborview shortly? Gonna ask any questions? Maybe attend a City Council hearing and show the depth of your research? When you speak about “low-hanging fruit,” you have not shown enough credibility for me to know you can identify the difference between a prickly pear and a watermelon.
No one is hired by the City unless it is political these days. Qualifications and the need for such a position in the City are secondary or of no concern, unfortunately. This budget document is full of inconsistent figures (BOE budget, MERF pension assumptions, Library budget–1 mil?, tax collector revenues). Tom Sherwood does it all. And keep your eyes on Public Safety budgets!!! There is more and less than meets the eye in these presentations! We need public safety personnel who are trained and perform well. We may be paying for more leadership than is required, and with people looking for work, what is the rationale for keeping on leadership who currently receive pension and full-time pay?
On page 11 of the proposed budget is this wonderful line: “This is another milestone in the Finch’s Administration philosophy regarding fiscal integrity and more transparent governance.” Were they commenting on forgetting to publish the employment chart following the Mayor’s short transmittal letter or commenting on data from 2009 on page 15-16 when info from 2010, 2011, and 2012 was available? Time will tell.
*** IT’S A KNOWN FACT SOME OF THE B&A COMMITTEE AND CITY COUNCIL MEMBERS SOMETIMES WEAR DEPENDS DURING CITY BUDGET SEASON, NO? *** THE STRESS CAN GET A BIT MESSY WAITING ON WHAT THE STATE “WILL OR WILL NOT DO!” ***
Speaking of political hires, I hear a $25,000 a year custodian just hit the jackpot and is being named the head of Public Facilities.
*** Don’t knock burman, he may know the ropes and get the job done, even without the education wallpaper. *** OIB ***