ORLANDO, Fla. (AP) — A new report shows that three Florida cities had revenues well below their peaks two years after the recession ended.
The Pew Charitable Trusts report released Monday shows Miami, Tampa and Orlando have been using job cuts and dipping into reserves to make up for revenue shortfalls in the wake of the recession.
The report also says that property tax collections in Tampa dropped by a third largely from 2007 to 2011 because of a change in state property tax law. The change restricted increases in assessed values to 3 percent a year.
Miami has lowered its funding of pensions for city workers, while Orlando has continued to keep up with its pension obligations.
The report shows that Orlando shed 400 jobs, and Miami reduced spending on public safety.