You know that five percent decline in Dallas County property values that city officials were expecting? Turns out it was only a 3.4 percent decline. I suppose we’ll take good news anywhere we can get it.
Because, actually, it’s not much good news at all. All it means is that city officials have $9 million more to work with, not very significant given the $190 million budget deficit. The city manager reports that she still has $29 million of the deficit to deal with.
And for those of us who appreciate irony, the biggest decline came in commerical property values, which fell almost seven percent while residential values were more or less stable. The city council, of course, has been falling all over itself to push commerical development. Glad to see it has paid off.