There is a financial crisis in Westchester County, New York. Many cities in the county must increase taxes.
Business-focused tax incentives helped make the county one of the most appealing in the country for Fortune 500 companies. Those same policies are causing big trouble for local economies during the recession.
Already, the county has cut services like pensions and employee health care. Hundreds of government positions have disappeared.
Many Westchester employees in the private sector see their salaries decreasing. If you are having trouble paying any bills, you may want to consider taking out a payday loan. It might help you address financial emergencies that have cropped up as a result of these policy changes.
White Plains is feeling the heat. City legislators are considering an 18% increase in property taxes. The increased property taxes could be a huge financial boon to the city, but the average homeowner could see their city taxes go up to $445.
The city of White Plains also may fire up to 50 government employees, while reducing salaries across the board.
The recession is taking a major toll on cities across the United States. However, for areas like White Plains, where the tax policies were bent to appeal to big businesses, the pains of the recession are felt that much more.