The City Of Elizabethton Is Preparing For Deep Financial Cuts. The National Economy Is Being Blamed For The Hardship. The City Expects To Have A Shortfall Equaling Half A Million Dollars. City Finance Director Larry Clark Said The Cuts Are Difficult To Make As The City Has Been Operating On Lean Budgets For The Past Few Years And There’s Not Been An Increase In The Property Tax Rate For The Past 15 Years.