Budget shortage threatens tax rollback in Cincinnati.
Position | Ohio |
Cincinnati will experience a $10.5 million deficit next year, not including permanent spending cuts or revenue increases. By 2006, the deficit is expected to reach $19 million, and soar to $71 million by 2008.
Some city administrators say that ending a property tax rollback could make up more than half of the shortfall. The rollback is designed to lower Cincinnati's tax rate to offset rises in property value, which would keep what homeowners pay annually steady from one year to the next.
A number of City Council members say they won't end the rollback and that searching for budget cuts is a more productive way to compensate for the...
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