Fiscal Note
No appropriation is required.
It is estimated that the city will receive $6.1 million in shared revenue and utility aid payments in 2013. This is approximately $4.1 million (40%) less than the amount received in 2002. This amount is equivalent to $45 in property taxes on the average value home and represents 1.5% of general fund revenues.
Title
State Shared Revenue Program
Body
WHEREAS, shared revenue funding for municipalities has been cut by $57.6 million in 2004, $23.1 million in 2010; and $47.7 million in 2012; and
WHEREAS, the most recent reductions cut Madison's shared revenue payment by 25 percent, from $6.35 million in 2011 to $4.33 million in 2012; and
WHEREAS, for over ninety years the state shared revenue program has been a key component of Wisconsin's state and local relationship and an important part of the state's overall program of property tax relief; and
WHEREAS, Governor Walker and legislative leaders have made job creation and economic growth a top priority; and
WHEREAS, to create jobs and economic growth, municipalities must invest in services that businesses demand, like police protection, fire suppression, road maintenance, and snowplowing; and
WHEREAS, to create jobs and economic growth, municipalities must invest in infrastructure that businesses demand, like sewer pipes, water mains, roads, culverts, and bridges; and
WHEREAS, to create jobs and economic growth, municipalities must invest significant funds in a variety of development tools, such as development incentives and grants, business incubators, recruitment and retention efforts, community branding, public/private partnerships, economic development networks, urban service area extensions, and tax incremental financing districts; and
WHEREAS, a strong infrastructure for economic growth, which includes an efficient and effective transportation sytem to serve the workers and business community, is vital and necessary to the future of our state; and
WHEREAS, job creation and economic growth in our communities will generate additional sales and income taxes for the state; and
WHEREAS, the state should reinvest a portion of its revenue growth in local communities to spur further job creation and economic growth and put Wisconsin on the road to permanent financial stability;
NOW, THEREFORE, BE IT RESOLVED, that the Mayor and the Common Council of the City of Madison urge the Governor and the Legislature to restore shared revenue funding to 2002 levels.