A new report from the National League of Cities (NLC) finds that cities are in a better fiscal condition than the year before, with city revenues nearing pre-recession levels.
For its annual City Fiscal Conditions report, NLC surveyed city finance officers and found that 81% report that their cities are better able to meet the financial needs of their communities than the year before. Property tax revenue, sales tax revenues, and income tax revenues all show strong growth and General Fund revenues have recovered to about 96% of pre-recession levels (using 2006 as the standard).
NLC's annual survey examines cities' abilities to meet fiscal needs, factors impacting budgets, tax receipts, and revenue and spending trends. It compares these responses to city data and survey responses from the past 31 years to provide context for how current fiscal conditions compare with previous recession and recovery periods.
The report findings were presented at an event live streamed from NLC's headquarters in Washington, D.C. Read the full report here.