City Of Gainesville Value Decreasing, Property Values Are To Blame
Over five billion dollars, it sounds like a lot, but the city of Gainesville says it's the lowest number they've seen in years.
Dropping property values, means lower property taxes and that translates to less revenue for the city to work with.
Gainesville is already facing cuts to programs and staff and now they'll have 300,000 dollars less in the bank.
Over-development before the housing market crashed drove down the values of single family homes, apartments and condo's.
While this year's numbers have rebounded a bit, city officials aren't sure they've bottomed out just yet.
Even with a dreary outlook, city manager Russ Blackburn says they do not anticipate further cuts because of adequate planning.
The city's worth for the 2010 fiscal year is down from 5.8 billion last year.
- Higher Property Values Means Homeowners Pay More to Schools
- City Of Gainesville Increases Mobility, Decreases Eyesore
- City of Alachua Closes on $1.2 Millon "Project Legacy" Property
- City Commission Addresses More Than Property Tax Reform
- Homeless Population Decreasing in Downtown Gainesville
- Gainesville Property Management Group Under Investigation
- Gainesville Property Owners Claim Damages Against Woman with Questionable History
- Complaints About Val-U Car Keep Rolling In
- Val-U Car Owner Arrested for Grand-Theft Auto
- University of Florida Ranked Number Three Best Value