Breaking Down the Budget

2024 budget discussions are currently underway. Most of us debate the merits of a 1.75 percent or 2.5 percent property tax increase but has anyone stopped to explain how property taxes actually work and what it all means? Plain and simple… property taxes are the main source of municipal revenues and, surprising to some, amount to 67 percent of the annual budget. Steve Facey the City's Manager of Finance joins the podcast to explain the budget process.