Those who are desperately straining to see improvements in Atlanta’s local economy may want to skip Mayor Kasim Reed’s budget proposal, or at least limit their view to a few bright spots.
Reed’s budget is based on some grim predictions: Property tax revenues will decline; sales tax revenues will stagnate; lease payments for city-owned properties will decline, according to revenue overviews scattered throughout the budget book.
Bright spots include revenue from business licenses, which is forecast to rise a bit as business income increases. The hotel/motel tax is expected to rise modestly as the business and tourism trade holds on. In addition, Atlanta expects to hire rather than lay off employees, with a third of the new positions to be located in the executive offices that report directly to the mayor.
