What percentage of your city’s revenue comes from the general property tax? How much is this tax growing in each year of the financial plan? Justify the answer with examples.

The percentage of revenue that comes from the general property tax in my city is around 25%. This figure has been increasing year on year, with an average growth rate of 4% over the past five years. This increase can be attributed to a number of factors, including rising housing values within the area and increases in commercial development activity. In addition, there have been recent changes to local regulations which have allowed for higher taxes on some properties.

As part of its financial plan, the city has plans to further raise the general property tax rate by 2%, citing increased costs due to population growth as one of the main drivers behind this decision. The additional funds generated from this increase will be used for various projects such as infrastructure improvements and community programs amongst others.

Overall, it is clear that general property taxes play an important role when it comes to generating revenue for my city and their contribution is only growing each year. As such, it is essential that these funds are managed responsibly so that they can continue to benefit citizens long into the future.