The City of Prineville adopted a $25 million budget, $7 million less than last fiscal year.
“Our property tax revenues are budgeted to be down about 4 percent,” [City Manager Steve] Forrester said.
While that is the case, the City remains in good fiscal shape, primarily because of a substantial debt restructuring effort this past year. By consolidating their existing debt, they nearly saved enough money to backfill the expected tax shortfall.
Read more at Central Oregonian.