Question
The City of Camelot, population 650,000, is facing a $6.7 million budget gap for next fiscal year. A variety of revenue measures have been suggested
The City of Camelot, population 650,000, is facing a $6.7 million budget gap for next fiscal year. A variety of revenue measures have been suggested for closing the gap, including raising user fees (primarily at city parks and recreational facilities and events), implementing a small (perhaps 1%) wage tax, piggybacking a 3/4 cent sales tax onto the state's current rate of 8%, increasing "sin taxes," or raising property taxes. A recent columnist in the local newspaper said, "As a property owner, I'm tired of elected officials eying my pockets every time municipal coffers get bare." You are Special Advisor to the Mayor and need to recommend one of the above options. Evaluate all of the options for the mayor, after first explaining & describing the standard revenue evaluation criteria.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started