When voters passed Measure S in 2006, they gave the city $16.6 million. But because of cost saving measures and scrupulous oversight, the city only spent $14.5 million. When they looked at the account and saw there was money left over they decided to lower residents’ property tax bills for the next 15 years. The average discount will equal $79 per year, or roughly $345 over the next fifteen years.
From the Marin Independent Journal:
It’s almost unheard of for government to give money back to residents – especially when times are tough.
But that’s exactly what will happen in Sausalito after construction of the city’s public safety buildings came in under budget. The project was finished last year.
Now the City Council will likely vote next month to return $2.1 million to residents via a reduced property tax bill over the next 15 years.
Read the full article here.