Revenues for the city of Atlanta top $2 billion dollars annually. Approximately one-third of that revenue is generated through property taxes. In seven years of balanced budgets and growing cash reserves, Kasim did not raise property taxes one time. Homeowners shouldn’t disproportionately bear the brunt of funding the city government. Revenue sources should be diverse, equitable, and reflect the value generated. Kasim has balanced our budget before without raising property taxes, and here’s how he plans to do it again:
- Replenish the reserve.
- Restore the City’s AA credit rating.
- Balance the city’s budget to match actual revenue received.
- Keep property taxes low, while continuing alternate revenue streams.
- Streamline grant disbursement and process provider payments monthly.
- Update the city’s procurement process and eliminate waste, fraud, and abuse.
We should return to the sound fiscal stewardship Kasim consistently delivered in the past. We must balance the budget and replenish our reserve funds, so we are prepared for any crises. These steps will help Atlanta’s credit rating, saving us money on priority projects. A comprehensive review of our procurement policies will save money by eliminating waste, fraud, and abuse, along with expediting project delivery. These prudent fiscal measures will make Atlanta an even better place to live, work, and raise a family.
There are approximately 500,000 residents in the city of Atlanta, but the weekday daytime population swells to over 1 million. Commuters and visitors put a significant strain on our infrastructure and city services. Through sales taxes, parking taxes, hotel-motel fees, rental car fees and development impact fees, the city has diversified its revenue streams. Special taxes like the Municipal Option Sales Tax (MOST), which will generate approximately $750 million over its four-year life through a 1 penny sales tax, and TSPLOST for transportation further expand our tax base.