Tipton expects property values to dip

This just in from reporter Keyonna Summers

The layoffs at KSC threaten local property values and tourism dollars, said Brevard County Manager Howard Tipton.

According to Tipton, property values and revenues over the last two years have decreased dramatically. Officials anticipate revenues will decrease another 12 to 15 percent each of the next two years, he said.

Commissioners also are analyzing what impact the layoffs will have on the annual $90 million in revenues the county generates from people coming to watch launches.

"Part of our challenge is we're already in a challenging situation," Tipton said.