Aldermen get budget news tonight

Evanston aldermen are scheduled to get an update tonight on how the slowdown in the national economy is affecting city tax revenue.

They're scheduled to hold a budget workshop session at 6:30 p.m. at the Levy Center, 300 Dodge Ave.

The impact of the slowing real estate market on building permit fees and real estate transfer tax revenue will be among the topics to be covered by city staff in the review of the how the city is doing more than seven months into its current fiscal year.

The session will also include a preview of the budget for the upcoming fiscal year and a discussion of what are likely to be painful options for balancing revenues and expenditures.

The session comes just after local homeowners received their second installment property tax bills, which for many showed substantial increases, based on reassessments performed before housing prices stopped rising.