The Well Runs Dry.
By Jim Conley • Jan 17th, 2007 • Email This Post to a Friend •
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Revenue to the Massachusetts treasury from the income tax is in steady decline and an increase in the personal exemption for 2008 appears unlikely, according to a report in today’s Globe.
The Commonwealth is staring at a $1 billion deficit because people are earning less. So what does that mean for Brookline? It means that instead of making cuts in the municipal budget, the Brookline Selectmen will pin their fiscal policy on a Prop 2.5 override (see previous post).
Brilliant. Raise people’s property tax at a time when incomes are falling behind.
Tags: Brookline, budget, Massachusetts, override, Selectmen, Taxes
Jim Conley is publisher of On Brookline.
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I’m thinking of the jazz standard “Here’s that rainy day” as I wonder about governmental rainy day funds and what happened to them. Next the deluge! So I guess we in Brookline must dip into our personal rainy day funds to fund unaccountability on the part of our Town officials. Or we could form an umbrella organization to shield us from the trickle down approach of our Selectmen.