Cincinnati Projecting Budget Deficit For Upcoming Fiscal Year
Cincinnati City Council won't approve a new budget for another six months, but already the city manager is projecting a deficit of between $7 and $9 million.
The actual amount of the shortfall depends on city council setting the property tax rate.
City Manager Harry Black wants the rate to increase to 6.1 mills, the amount allowed in the city charter. That would add about another $3 million in revenue.
But such a city property tax increase is unlikely.
Mayor John Cranley has introduced a competing proposal to keep the amount collected at about $28.9 million. That would set the tax rate at about 5.52 mills.
City Council has been consistently holding at this amount since 2000.
The city manager said the deficit is primarily the result of wage increases given to city workers earlier this year.
City Council will hold a public hearing on the property tax rate on December 19 and could vote on the issue then.