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COLORADO SPRINGS —Sales and use tax revenue is plunging in Colorado Springs, the state’s second-largest city.
City figures show revenue collected in November fell more than 19 percent from the year before, to $8.8 million.
It’s the biggest since a 24 percent year-over-year drop in April 1990.
Most of the city’s services are funded by sales and use taxes. The decline has prompted city officials to freeze discretionary spending for the rest of the year and extend hiring restrictions.
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Information from: The Gazette,
