“I’m going to start by saying the current City Council has done a poor job in engaging with the public around the city’s financial condition,” Moorefield said during the August 13th City Council candidate forum. “And I have to take responsibility for that.”
It’s not all on him. He is just one member of the council.
Moorefield is a representative for Ward 3. He said the council recognizes the problem and is now trying to address it. It looks like they have made the first step.
(Photo: Corvallis City Hall/The Corvallis Inquirer)
The City Council announced today that they’ll hold four upcoming town hall meetings to discuss the projected $20 million annual budget gap and potential new taxes intended to cover the gap and preserve city services.
All four meetings will run from 6 to 7:30 p.m.:
Wednesday, Sept. 23: Walnut Community Room, 4950 NW Fair Oaks Drive
Tuesday, Sept. 29: Corvallis Community Center’s Chandler Ballroom, 2601 NW Tyler Ave.
Tuesday, Oct. 6: Corvallis-Benton County Public Library Main Meeting Room, 645 NW Monroe Ave.
Tuesday, Oct. 13: Tunison Community Room, 365 SW Tunison Ave.
All nine city councilors and Mayor Charles Maughan are expected to participate in the town halls. Residents will be able to learn about the city’s financial outlook, the factors contributing to the projected shortfall, and the potential revenue options under consideration.
The city estimates it needs approximately $20 million in additional annual revenue. That includes about $4 million a year for ongoing operating expenses, and another $16 million annually to address facility needs.
According to city sources, the financial problem could begin affecting core services as early as 2027. Without additional revenue, the council could face budget cuts beginning next year, these would be followed by more significant service reductions in 2029 and beyond.
After reviewing more than two dozen revenue options, the council seems ot have narrowed its current discussion to two possible taxes.
One option is a 1% payroll tax, divided equally between employers and employees working in Corvallis. The city estimates it could generate approximately $10 million annually. One version under discussion would exempt workers earning less than $32,000 per year.
The second option is a 0.68% income tax, which the city also estimates could raise approximately $10 million per year. The tax could potentially be structured so that higher-income residents pay a larger share.
If adopted together, the two taxes could generate enough money to cover the city’s projected operating shortfall and contribute toward facility investments.
This article was written by Jesse Grant, a contributor to The Corvallis Inquirer. Feel free to send us your stories or articles to publish at: editor@corvallisnow.com
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