The City of Ann Arbor recently released a budget preview for the 2009-10 and 2010-11 fiscal years.  Overall, many cuts are being made to fall in line with decreasing tax revenues.  Spending will be reduced to $85 million in 09/10 and $82 million in 10/11.  Here are a few other highlights:
  • Real estate tax revenue is projected to drop 1.2 % in 09/10 and 5.2% in 10/11
  • Property tax revenue is expected to fall to $51.5 million and $48.9 million respectively (current year $54 million)
  • 60% of Ann Arbor's revenues comes from property taxes, 14% from state shared revenues
  • Parks maintenance revenues are expected to decrease $65,000 in 09/10 and $270,000 in 10/11
  • Greenbelt open space preservation revenues are slated to drop $26,000 and $117,000 respectively
  • Solid waste millage will go down $135,000 and $607,000 respectively
More details about the Ann Arbor City budget cuts: http://annarborchronicle.com/2009/04/14/ann-arbor-city-budget-preview/ Even the smallest budget cuts are being considered to ensure that spending is commensurate with future revenues.  Anyone interested in a copy of the entire proposed budget can request a copy at the public library on the second floor of the Larcom Building.  You'll also find slides from the recent Ann Arbor city council meeting online. Search all listings in Michigan with pictures and tours...Free! Kathy Toth & Team: Ann Arbor Area Real Estate Experts www.KathyToth.com Keller Williams Realty