Looking back - Property Tax Value Decrease from 2006 to 2010 - ALARMING!

Well, amid all the recent bad news coming from our fair City, let's look at a little bit of some positive news. According to the Palm Beach Post article of July 1, 2006, the City's taxable value went from $1,528.6 billion to $2,016.1 billion. This is an increase of 32%! At the May 3, 2006 budget workshop, Mr. Boyer estimated a 15% increase in taxable value. I am sure this was meant to be a conservative estimate but raised much concern as the estimated budget deficit with that 15% increase was $4,797,500.

This is a portion of a post that comes from July 2, 2006. Clearly, these were the "salad days" in Lake Worth, but it shows what redevelopment can do and what effect it has the budget's bottom line.  Compare the total taxable value from 2006 of $2,016,100,000 to the 2010 estimated taxable value of $1,106,000,000.  Percentage-wise, from 2006 to 2010, the city of Lake Worth has lost 45% of its taxable property value.
Anyone care to do the math and determine the impact that additional value would have to our general fund balance?
Tying this post to the previous regarding incumbency, it's interesting to point out the last line of the Ministry of Information's endorsement of Jo-Ann Golden:
" If Ms. Golden can be too anti-business, Mr. Blackman can be too pro-development. That kind of tie goes to the incumbent."