While several towns were impacted during the “Great Recession,” forcing them to lay off and furlough workers, one expert predicts towns will go through another “municipal tsunami.”
Professor Raphael J. Caprio of the Edward J. Bloustein School of Planning and Public Policy, said the reasons largely stem from severe state aid cuts to municipalities over the years. Also, many towns have exhausted much of their surpluses and there isn’t much hope other types of revenues, such as hotel taxes and permit fees, will grow enough to make up for the loss.
