City (of Aspen) officials are revising their previous assumptions that sales tax revenue will remain flat in 2009, as it has become apparent that Aspen is far from recession proof. Financiers in City Hall this past fall budgeted for a 1 percent increase in sales tax revenue. A month later, in November, the Aspen City Council agreed to budget for a zero increase. But after watching the economy and consumer confidence spiral further downward, the picture is looking more grim.“The forecast is down 10 to 15 percent for the rest of the winter,” said City Finance Director Don Taylor. “Then it might even out for the summer and next ski season.” Taylor and other city officials are currently adjusting the 2009 budget and deeper cuts are likely.
By Carolyn Sackariason, Jan 4, 2009 The Aspen Times

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