PHOENIX -- Arizona cities and towns are bracing for another revenue hit from the recession.
Figures released Thursday indicate that cities and towns will face a nearly 25 percent drop -- approximately $155 million -- in the amount of state-shared income tax money they will receive in the next fiscal year.
That's because the state's income tax collections are going down, and the local governments receive a set percentage of the state income tax revenue annually.
League of Arizona Cities and Towns Executive Director Ken Strobeck calls the anticipated decrease "devastating news" and say it will hit local communities very hard.
