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Hank Fishkind Aug. 5 -- City and County Governments Face Major Belt-Tightening. August 5, 2008 -- City and county governments are looking at some tough choices as they prepare their next budgets, now that they're feeling the full effect of lower property tax revenues. The city of Orlando is proposing a 14 percent local property tax rate increase to help close its budget gap. Orange County wants to keep tax rates at their current level, but commissioners are thinking about pulling millions of dollars out of reserves to avoid cuts in legal aid and social service programs. In his weekly chat with 90.7's David Pitman, economist Dr. Hank Fishkind says local governments are waking up to what he calls a "hangover", after binging on property tax revenue for the last few years.
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