Tuesday, June 4, 2013

Decatur Illinois & the Double Whammy of Falling Home Values and Reduced Tax Revenue

Decatur library gets city loan; but long-term solution may be painful. (Decatur Herald-Review, 6/4/2013)

Excerpt: Library officials set the library’s expenses, but the city council controls how much money the library receives from property taxes. The council cut that amount by $390,000 in 2009 when the recession struck and has kept it flat at $3 million since then.

With the added element of long-term population loss.

Related articles:
The Atlanta housing meltdown continues. (2/2/2012)
Housing Prices Continue to Fall in Major U.S. Cities. (1/25/2011)
On the basis of this trend, urban libraries will certainly be tightening their belts again next year.  (12/28/2010)
The property tax domino effect (Atlanta metro area). (12/27/2010)
National League of Cities research brief on America's cities.  (10/7/2010)

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