Facing budget deficit and sharp property value decline, water district board proposes tax hike
Having finally sealed a deal on the purchase of the former Digital Abstract building to house its offices, the water district is trying to prepare a budget for the next fiscal year in the face of a 23 percent decline in property values.
Board members know that the current tax rate of $0.02750 will not raise enough revenue to meet an already pared-down budget.
Operating on a deficit budget for…