{"id":21608,"date":"2014-06-03T09:31:46","date_gmt":"2014-06-03T13:31:46","guid":{"rendered":"http:\/\/raleighpublicrecord.org\/?p=21608"},"modified":"2014-06-03T09:31:46","modified_gmt":"2014-06-03T13:31:46","slug":"state-tax-cut-means-7-million-loss-for-city","status":"publish","type":"post","link":"https:\/\/theraleighcommons.org\/raleighpublicrecord\/news\/city-council\/2014\/06\/03\/state-tax-cut-means-7-million-loss-for-city\/","title":{"rendered":"State Tax Cut Means $7 Million Loss for City"},"content":{"rendered":"<p>A state decision to cut <a href=\"http:\/\/www.dornc.com\/taxes\/license\/scope.html\" target=\"_blank\">privilege license taxes<\/a> next year is already generating budget questions for Raleigh City Councilors. <\/p>\n<p>Last week Gov. Pat McCrory signed a tax reform bill that does away with the tax, which businesses pay to operate in cities and towns. Raleigh officials predict that this will hit the city budget with $7 million in lost revenue. <\/p>\n<p>The House version of the bill would have capped the tax at $100, but without consensus between the House and the Senate, no replacement was included. The law will take effect July 1, 2015. <\/p>\n<p>During Monday\u2019s budget work session, Mayor Nancy McFarlane reminded Councilors to keep the lost revenue in mind as they work on next year\u2019s budget. <\/p>\n<p>\u201cWe need to plan assuming that we won\u2019t have that $7 million,\u201d she said. <\/p>\n<p>The lack of revenue could pose challenges in following budget years. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>With privilege licenses no longer a viable revenue source, Councilors are keeping the decline in revenue in mind as they discuss next year\u2019s budget.<\/p>\n","protected":false},"author":24029,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[4,15],"tags":[77,1679,183],"_links":{"self":[{"href":"https:\/\/theraleighcommons.org\/raleighpublicrecord\/wp-json\/wp\/v2\/posts\/21608"}],"collection":[{"href":"https:\/\/theraleighcommons.org\/raleighpublicrecord\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/theraleighcommons.org\/raleighpublicrecord\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/theraleighcommons.org\/raleighpublicrecord\/wp-json\/wp\/v2\/users\/24029"}],"replies":[{"embeddable":true,"href":"https:\/\/theraleighcommons.org\/raleighpublicrecord\/wp-json\/wp\/v2\/comments?post=21608"}],"version-history":[{"count":0,"href":"https:\/\/theraleighcommons.org\/raleighpublicrecord\/wp-json\/wp\/v2\/posts\/21608\/revisions"}],"wp:attachment":[{"href":"https:\/\/theraleighcommons.org\/raleighpublicrecord\/wp-json\/wp\/v2\/media?parent=21608"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/theraleighcommons.org\/raleighpublicrecord\/wp-json\/wp\/v2\/categories?post=21608"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/theraleighcommons.org\/raleighpublicrecord\/wp-json\/wp\/v2\/tags?post=21608"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}