Municipal pain is at its worst level on record, according to annual report from the National League of Cities.
Revenue is 3.2% lower than last year, which was already at record lows. It may get worse next year as property taxes decline to reflect fallen property values.
Cutbacks in government spending are also at record levels.
The fiscal bloodshed you hear about in Los Angeles and New York -- not to mention state governments -- is probably taking place in your home town.
Image: National League of Cities
2. Cities that depend on property tax suffer the most
Image: National League of Cities
3. Western cities -- home to the largest property collapse -- are having the hardest time
Image: National League of Cities
4. Revenues have fallen for four straight years. Austerity really kicked in this year
Image: National League of Cities
5. Property tax revenues posted the largest decline this year and last
Image: National League of Cities
6. Here are the details on factors influencing the budget.
Image: National League of Cities
7. Here's the impact of those factors on the budget. ALMOST ALL NEGATIVE
Image: National League of Cities
8. And now the austerity measures: Personnel cuts, delayed projects and cuts in services lead the barrage
Image: National League of Cities
9. Forms of personnel cuts include hiring freezes, reduced expense accounts, and salary freezes
Image: National League of Cities
10. Now here's how they're making up revenue: NEW TAXES AND FEES
Image: National League of Cities
11. Cities CANNOT run over the budget -- unlike the federal government -- but they're coming close
Image: National League of Cities
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