Thanks to The First Electric Newspaper for reminding me that it is that time of year when financial officials at tax districts find out how much more tax money they will be able to get in 2016.
They already know the Property Tax Cap has limited them to an increase of 1.5% for their 2015 tax take.
Even so, many asked for many multiples of that figure to make certain they did not lose one dime the law allows them to collect.
The 2016 inflationary increase will be 8/10 of one percent.
Only in 2008 was inflation lower–0.1%.
There will be wailing of gnashing of teeth of tax district administrative officials and board members…especially, I image of those who have signed multi-year teacher contracts assuming much higher rates of inflation.