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What impact would State-enacted property tax growth caps have on the Citys ability to finance the bond program?

April 26, 2017ability Bond caps Citys Finance growth impact program

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What impact would State-enacted property tax growth caps have on the Citys ability to finance the bond program?

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Depending on the cap that the State Legislature may enact if any at all the City will be financially able to collect sufficient property tax revenue to repay the bonds. The City projects an annual property value increase of 3.5% from FY 2008 through FY 2011 and 3.0% in FY 2012.