(August 7, 2013) – Preliminary results for tax collections for the fiscal year ending June 30, 2013 indicate a continuing positive trend, and are expected to exceed the adopted budget by more than $6 million dollars.
"There are a number of positive indicators in our local economy, and we are seeing more taxpayers who had previously fallen behind bringing their accounts up-to-date and making arrangements to satisfy delinquencies,” said Mayor Segarra. "Efficiencies and strategic approaches to the collection process are having a tangible impact on results, and I hope the bond rating agencies take note of that,” Segarra added.
Collections of current year levies exceeded the budget by $1.6 million, while collections of all levies from prior tax years are expected to exceed the budget by $4.5 million.
"Our improving collection rate is allowing us to meet the Mayor's objective of assigning fewer tax liens to third-party investors, that not only has a positive community impact, but puts us on course for hitting collection targets this year and in future years,” said Marc Nelson, the City's Tax Collector. “These have been very fiscally challenging times, but there is a sense of optimism that I'm beginning to hear in some of my discussions with taxpayers - that's not a leading economic indicator, but it is a hopeful sign,” said Nelson.
The Tax Office, located in room 106 at City Hall, is open Monday – Friday from 8:15 AM to 4:45 PM.
For Immediate Release: August 7, 2013
Contact: Marc Nelson