Muncie might be forced to declare an economic emergency

By Nick Werner, Star Press

nwerner@muncie.gannett.com

MUNCIE -- The already bleak financial future for the city of Muncie has taken a turn for the worse.

Revenue lost to property tax caps in 2009 and 2010 is expected to be significantly higher than projected earlier this year by the state Legislative Services Agency, according to a consulting firm working on behalf of local governments.

"The revenue losses here are very significant," Gary Malone of H.J. Umbaugh and Associates said in a Thursday meeting of local elected officials.