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Rising real estate tide not lifting U.S. cities’ revenues

Posted on 05 April 2013

The real estate recovery has yet to lift the property tax revenues of many U.S. cities, a worrying sign for municipalities that rely on the taxes as their chief sources of income, according to a report released on Thursday.
In a survey of local economic conditions, the National League of Cities found that residential property vacancies and values are “still a problem” for more than half of U.S. cities. Officials in 65 percent of the cities consider commercial property vacancies a problem, and those in 57 percent say commercial property values are still a concern………………………………………..Full Article: Source


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