Record sales tax revenue for the city of Branson continues as second quarter sales taxes take a slight increase. But massive spending under the Presley administration promises additional tax increases to keep the city afloat by 2012.
The city's tourism tax had a slight decline for the first time in a decade after a massive spike in 2007. Three factors are affecting and will affect revenue the city receives.
1. HFE's theme park Celebration City closed this year
2. Timeshare and packaged tour tax reporting adjustments prescribed by the recent Supreme Court Ruling
3. Anti-growth policies of the current city administration
Branson alderman raised water and sewer rates last night which will continue over the next 5 years. Citizens refrained from comment as the Branson Board of Alderman voted to approve the increase.
When Raeanne Presley was elected Mayor 12.85 million dollars in funds sat in reserve due to conservative fiscal policies of previous administrations. Under the current plan, the reserve funds will be reduced to 4 million dollars at the end of the 2011 calendar year.
The budget Branson Alderman approved on first reading totaled $62 million.
