Jul 23 2009
State Budget fix draws heavily from Peninsula cities…
Robbing from Peter to Save Paul
The most recent budget proposal out of Sacramento relies heavily on the State Government borrowing property tax revenue from local cities to close the $26B gap that exists today. Cities that have already laid off staff and cut expenses to the bone will now their coffers raided (whatever’s left over) to bail out the state of California.
The Daily News published an article that outlines the impact by city:
Prop. 1A estimates borrowing from state (estimated).
• Atherton $435,469
• Belmont $431,256
• Brisbane $366,109
• Burlingame $1,146,343
• Colma $179,234
• Daly City $2,083,109
• East Palo Alto $708,803
• Foster City $1,206,702
• Half Moon Bay $220,885
• Hillsborough $850,335
• Menlo Park $981,087
• Millbrae $476,223
• Pacifica $964,058
• Portola Valley $93,796
• Redwood City $2,892,572
• San Bruno $829,615
• San Carlos $833,661
• San Mateo $2,808,517
• South San Francisco $2,045,007
• Woodside $178,635
It’s ironic how the most affluent community on the Peninsula will end up paying less than the least affluent…
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