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Defining the Fiscal Tsunami <br />(FY2008-09 to Fvzoio-ii) <br />Worst Economic Decline Since The Great Depression <br />What was the impact to our City <br />IV Significant Declines in Major Revenue Sources <br />Sales Tax revenues decline by 26% (approx. $12M from FY07 -08 to FY09 -10) <br />Property Tax revenues declined by 11.5% (approx. $6.7M from FY07 -08 to FY10 -11) <br />5 <br />