Friday, September 10, 2010

Mayor Ken Short Incompetence Continues...

Based on the comment below, which appears in the most recent addition of the OT, it's quite clear Mayor Ken Short's fiscal incompetence continues to the taxpayers detriment:

“We are going to get next year’s budget under 2 percent (increase). We start work right after Labor Day,” said Short.

On the surface this sounds great. The problem is the "2 percent" metric that is now state law, applies to the TAX LEVY, not the BUDGET! There is significant difference. The "BUDGET" is how much you can plan to spend (including spending for items which are paid for with non-property taxes such as donations, grants, fees, etc.) The "TAX LEVY" on the other hand is what you force taxpayers to pay.

Why is this distinction so important? Looking back to 2005 provides a clue. That's the year Mayor Ken Short bragged about a "BUDGET" that declined in spending. What he didn't mention was the associated "TAX LEVY" that increased by a whopping 11.1%!

The TAX LEVY cap, initially passed under the Corzine administration and lowered to 2% by Governor Christie, is designed to address the sleazy bait and switch games Mayor Ken Short pulled over on us for far too long.

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