Survey: Worst of recession has yet to hit U.S. cities’ coffers

The light at the end of the recession tunnel is distant and dim for the nation’s cities, according to a survey by the National League of Cities. While optimistic federal officials hint at an economic turnaround, city finance officers say the picture remains bleak for city governments. This is chiefly because a top source of municipal income — property tax revenue — tends to lag behind changes in the market