Oro Valley needs the revenue from three proposed new taxes because “we’re falling behind,” according to Chief Financial Officer Dave Gephart. “We are in a structurally challenged environment.”
Costs are rising faster than revenues. Projections show a revenue increase in the town’s “backbone” General Fund of $6.25 million through 2030…and an operating expense increase of $8.89 million.
Local sales tax revenue, which represents 45% of General Fund dollars, has “flattened” over the three years since the pandemic, Gephart said. “We haven’t seen much growth, if any, in local sales tax collection,” he told guests on a July 10 Zoom call regarding proposed tax increases…