Local Government Funding
Posted:Karl Green, Program Manager, Local Government Education Program, UW-Extension, presented on a recent "Renewing a Sustainable and Equitable State and Local Government Funding Partnership" report to the Town Board on March 8, 2023. Conclusions from the report:
- State cuts to shared revenues have increased reliance on the property tax.
- Levy Limits incentivize using general oblibation debt as an immediate-term method to fund capital costs.
- Reliance on user fees remains steady despite their regressive nature and state limitations on some uses.
- Eliminating the shared revenue formula has reduced fairness.
- Increase state tax revenues are generating >$7B tax surplus, but yet to share with county/local municipalities.
To view the full report: Report link