Santa Clarita Economy Takes a Dive
Even two Wal-Mart Supercenters can't save a city's budget.
Today, the city of Santa Clarita, the fourth largest city in LA County, reports a 15% decrease in the preliminary fourth quarter sales tax figures. The tax revenue is projected at $7.3 million, $1.3 million less than last year.
“In all of my years in local government, I’ve never seen such a dramatic decrease in sales tax revenue as we are seeing in our fourth quarter numbers. By far this is the largest decrease in sales tax revenue our City has seen in 21 years,” explained Ken Pulskamp, City Manager. “In response to already-declining revenues, the City has already reduced 16 positions and reduced spending in the current fiscal year. As we analyze revenues and work on the new fiscal year budget which begins July 1, 2009, we will definitely be making changes across the board. Everything is on the table as we figure out how to move forward.”