2012beof-111206092256-phpapp02

The colorado municipal leagues state of our cities

Info iconThis preview shows page 1. Sign up to view the full content.

View Full Document Right Arrow Icon
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: many to cut staff, reduce services, and cut park, police, and fire budgets. The Colorado Municipal League’s State of Our Cities and Towns Report published in 2011 shows 30% of municipal governments expect a better revenue picture in 2011, while 38% anticipate the same and 26% foresee continued lower in municipal revenue. continued on page 98 97 2012 Colorado Business Economic Outlook Government continued from page 97 A continued drop in assessed valuations will strain local government budgets further. As confidence in the housing market continues to sag, many potential homebuyers are turning to rental properties rather than purchasing a home. The lower demand for home purchase creates downward pressure on prices. Furthermore, the continued presence of foreclosures properties has created a glut of available homes in the market. The reduction in demand, coupled with ongoing problems in the housing market, will continue to create problems with assessed valuations. These factors will keep prices well below their pre-recession levels and suggests...
View Full Document

Ask a homework question - tutors are online