How to get by with less is an issue all levels of government are facing.
The emergency manager in Pontiac, Michael Stampfler, is proposing a combination of tax hikes and service cuts to cure the city's budgetary ills as reported in the Oakland Press:
Stampfler took to the microphone this morning for an informational meeting about the updated financial plan that could mean property taxes being raised between 6 and 8 mills.
He requested the public and elected officials submit ideas in writing if they have alternatives to what is proposed.
Stampfler released an update of his financial plan, adding $15.05 million to the budget with a combination of cuts and possible tax hikes.
An 8 mill property tax increase would mean that a property owner whose house is assessed at $50,000 would pay $400 more a year in taxes.
This past spring, the assessed value of homes in Pontiac dropped by an average of 21.4 percent, resulting in $2.6 million in lost annual revenues for the city.