TAX AND OTHER REVENUE INITIATIVES IN THE PROPOSED FISCAL YEAR 2013 BUDGET| May 14th, 2012 | PDF of this report
Summary of the Mayor’s Proposed FY 2013 Budget
Mayor Gray’s proposed Fiscal Year 2013 budget includes $90 million in additional revenues to help address the city’s $172 million budget gap for next year.. Some of the revenue proposals would improve efforts to collect tax and non-tax revenues and to enforce the city’s traffic laws, which require additional staffing and equipment. Taking these associated costs into account, the net revenue increase is $84 million.
The increase in revenues largely would occur without changes to fees or taxes on residents and businesses. Just $13 million of the proposed new resources would come from changes in tax policy. These include a proposal to limit planned increases in three tax deductions, and a proposal to create a new fee for taxi rides.
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