City decides not to hike taxes
The Coeur d'Alene City Council Tuesday night approved an $85.9 million budget, and at the last minute decided against an increase in property taxes. The proposed budget called for increasing property taxes 1.75 percent. "This is a great budget for this year," Mayor Steve Widmyer said during the budget hearing. "But it hasn't only taken this year to get there. It's taken a number of years why we're in the position that we're in." The council decided to draw on the $6.1 million fund balance - or savings account - to hold the budget amount at $85.9 million without a property tax bump. The city will pull $134,000 out of the fund balance. The approved fiscal year 2016 budget exceeds the current year's by $11.4 million. Several major new expenses added to the increased budget, including a $5 million general obligation bond. A planned new fire station added $1.2 million/David Cole, Coeur d'Alene Press. More here.
Question: But I thought that the city's urban renewal districts were wreaking havoc on property tax payers. Thoughts?