Monday, May 18, 2009

Tuesday's election and potential impact on Lodi

Voters go to the polls tomorrow to decide a bunch of propositions related to State finances. The League of California Cities is expecting the State to seize $2 BILLION of local government money if the propositions fail.

So what would that mean for Lodi? Another $1.4 million in lost revenue.

This would be on top of the impact on the City by the recession. Revenue from property and sales tax alone is estimated to be nearly $3.5 million less in the fiscal year (beginning July 1) than it was in Fiscal Year 2006-07.

Of course, this would only be a loan to the state. Funny word, "loan." Usually it's lenders who decide if they'll make a loan. Making a loan against your will ... you could probably find a better word for it.

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