Milton Friedman in one of his often quoted statements and, much previously, our founding fathers recognized that there can be no stable government of any type without a sound economic base and responsible fiscal management.
Unfortunately, if you are watching the scrambling that is going on in Sacramento these days and the abusive taking away and squandering of ?other people?s money?, you will see a shameful display of irresponsible fiscal management.
Well, that?s kind of the bad news. Now let me tell you the real good news right here in Foster City. I would recommend you having your property tax duplicate in hand while reading this.
Through sound, conservative and ?responsible fiscal management? your government of Foster City is reducing the Estero Bond line item on your tax duplicate by 51%. That?s an average of $150 per year reduction in your property taxes. But that is just part of the story.
In the year 2007-08, we will completely eliminate our Estero bonded debt obligation. That?s the other 49% of the Estero Bond line item. That will bring the total average reduction in property taxes to over $300 a year.
This was all approved by your City Council at our July 7th meeting.
Let me tell you, that makes me proud of our City management and in particular our Financial Services Department under Finance Director Ricardo Santiago.
City Manager Jim Hardy, Assistant City Manager Kristi Chappelle, and Finance Director Ricardo Santiago, I want to thank you and your staffs for the citizens of Foster City for your ?responsible fiscal management.?
print 