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Controller calls mayor's revenue assumptions reasonable but flags transfer‑tax risk
Summary
Controller Ben Rosenfield judged the mayor's revenue estimates reasonable but warned they depend on continued economic growth, noted transfer‑tax weakness and that reserves remain below policy targets, urging monitoring as budget deliberations proceed.
Controller Ben Rosenfield presented the office's revenue letter to the Budget & Finance Committee, endorsing the mayor's high‑level revenue assumptions as broadly reasonable while emphasizing key risks. Rosenfield said the budget assumes continued economic growth and highlighted the city's exposure to commercial real‑estate weakness through transfer tax…
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