Budget and City Finances
After two years of unprecedented growth and change in our small mountain town it feels like we are at an inflection point where both the economic and social outlook lacks visibility. Is growth set to continue? Is a possible recession going to slow things down? Is inflation going to limit our investment in capital improvement projects? Will housing costs continue to escalate? While property values may have increased significantly, by state law our property tax revenue can only increase by 3%. This is far below the cost increases that we are witnessing. This disparity between the rate of revenue growth and rate of inflation creates a squeeze on our budget.