Tuesday, October 11, 2011

State must act decisively on Lauderdale Lakes' fiscal SOS

Click title for link to article. Here is something that sounds eerily familiar contained in the article:

"Just recently, the Lauderdale Lakes commission raised both property taxes and assessments, but those increases don't come close to wiping away the red ink. Plus, Lauderdale Lakes has little commercial and industrial property generating revenue for its tax base. The city's predominantly working class and low-income residents make up the bulk of the city's taxpayers, who like many in communities across Florida have seen their property values shrink. Their ability to sustain the city's cost structure has been overwhelmed, and a path to sustainability must take this into account."