The economy is improving. Why not wait to see if property tax revenues grow enough by next year?
A. Property tax revenue growth is unpredictable but rarely dramatic. To replace $4.4 million in state funding; $5.5 million in existing parcel tax revenue; and fund next year’s estimated $1.2 million cost of enrollment growth; property tax revenue would need to grow 15% over this year’s projected sum. There is almost no chance of such a surge, as 2004-’05 growth is expected to be 5-6% and 2003-’04 growth was about 1%.
