The Pew Charitable Trusts this morning released a report which details how 13 different cities have been dealing with the impact of the recession. According to the press release, Philadelphia was the only city implementing broad-based tax increases for the second year in a row, but most cities are making cuts and looking for new revenue. From the release:
As of late May, Philadelphia was alone among the 13 cities in increasing broad-based tax increases for a second year in a row, adding a two-year property tax hike beginning in fiscal year 2011 on top of a five-year sales tax increase that began in fiscal 2010. But all of the cities are scrambling to find new or additional revenue streams. Most of the cities intend to boost a variety of fees and targeted taxes. Several are looking at selling or leasing assets such as parking garages. For four cities, new or expanded casino gambling is being discussed for fiscal 2011 or beyond.
To read the report click here.