Is a tax increase likely?Published 9:50am Friday, April 25, 2014
The news from City Hall is that a hike in taxes might be in store so as to balance a budget shortfall.
We can’t say we’re surprised that the City of Franklin believes it’s compelled to even consider a tax increase to make up for a budget shortfall.
For starters, when have the prices for any services or products ever dropped and stayed down?
As an example, the city’s participation in the Western Tidewater Regional Jail. A refinancing of debt could help over time, but there are still expenses such as prisoner maintenance and transportation to and from courts.
Then there’s school debt and the superintendent’s proposed budget, and don’t forget the request for a salary increase for faculty.
However, what can drop and affect a budget are property values, and apparently that’s the case in Franklin, with a projected 8 percent decline.
And the list keeps growing.
We’re counting on City Manager Randy Martin, the different departments and, of course, the City Council to seek out additional fund sources and also trim expenses. So if a tax increase becomes truly necessary, it won’t hurt too much.
Fingers are crossed.