Home › Forums › Financial Markets/Economics › More on public pensions and the economy › no_such_reality wrote:It’s
[quote=no_such_reality]It’s not revenue drops.
San Bernardino’s total revenue is down 11.2% from peak.
That’s all. The property tax drop, sales tax drop, VLF transfer etc, UUT, etc are down a total of about $11 million.
They have not lost half of their property tax base.[/quote]
Yes, it’s revenue drops.
Charts:
http://www.ci.san-bernardino.ca.us/civica/filebank/blobdload.asp?BlobID=10033
Think they’d need to file for BK if their revenues hadn’t dropped so precipitously?
