However, it creates higher prices because it is more costly for businesses, which could discourage Expenditures Bemployment.tax % of Total Public Safety Police 14.10% 14,100 14,995.35 Implementation 3.90% 3.900 4,137 90 The recommended action is to raise the minimum pension age by one year to reduce expenses. This social and Fam proposal will balance the 2024 Fiscal Year budget without tax increases or reduction of public We Ho services. With tax increases, the city's property tax rate would experience a 112% increase. Cutting agency budgets will affect Education the most because of how much they are allotted in the city Parks, Recreatebudget. Finally, the option of working with creditors or using the Rainy-Day fund hurts the Public works_municipality in the long run. Therefore, raising the pension age is a viable, cost-effective solution to Education Sanitation the imbalanced budget that the mayor is currently facing." Fleet Services (All Agencies) 2:90% 2,900 2,995.70 Technology De Appendix 4.30% 4,300 4,523.60 General Purchasing /Support/ Admin. 3.10% 3.100 3.193 00 Total Locally Funded Operating Budget 100,000 105,703.97 Revenue Categories for Locally Funded Budget 2024 $ Increase %% Increase 2024 Property Tax Rate Property Taxes 65,000 73,059.97 S 8,059.97 12.40% $ 21.05 Local income Taxes Personal Income Tax 10,000 9,000.00 $ 73,059.97 Corporate Income Tax 5,000 5,000.00