The city’s current financial state when it comes to revenue has bad news and good news, according to Finance Committee chairman Ken Smith.“I will tell you the bad news first,” said Smith during Tuesday night’s Finance Committee meeting. “Our current property taxes collected are $7,336 below where they were this time last year on Feb. 28.”The uncollected side of property taxes has a glimmer of good news in that more people paid their property taxes on time this year in comparison to last year, says Smith.“On Feb. 28, 2013, there was $676,000 of unpaid property taxes,” he said. “As of last Friday (Feb. 28, 2014), there were $636,000 of unpaid property taxes.