Union County income hurt by sales slump.
Plainfield readers have noticed my obsession with what's going on in the real estate market.
This story in today's Ledger graphically shows what happens to county receipts -- as in Union County -- when real estate sales fall.
The charts in this post reflect what's going on on the market. Receipts are in millions of dollars, for state fiscal years (July 1 to June 30), and the figures for 2007 are projections.
As the number of units sold and the sales price decline, so to do the real estate transfer fees collected by the County as part of the transaction.
Translation: Cut services or raise Union County taxpayers taxes.
And the problem affects the state as well as all other counties.
State and counties receipts, 2003-2007.
Complete details are in this morning's Ledger story.
-- Dan Damon
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