Property taxes are set to generate an extra $112 million in revenue for the city due to a hot real-estate market which helped to increase property values, and a boom in new construction.
The increased tax revenue will give mayor-elect Donna Deegan and the new City Council extra spending money when they take office on July 1 and head into the budget-writing season.
Mayor-elect Donna Deegan says she plans to use the windfall to fulfill her campaign promise to improve infrastructure.