Tuesday, August 23, 2011

With a Ballooning Budget Deficit, Marathon County Considers a Tax Increase

Marathon County's deficit more than doubles; board will consider tax rate increase. (Wausau Daily Herald, 8/23/2011)

Excerpt: Marathon County will consider increasing its tax rate to plug a deficit that more than doubled to $1.1 million as a result of stifled property values.

The county this month learned that its equalized value -- the estimated value of all taxable land and personal property in the county -- dropped by 1.28 percent. That means the county in 2012 will collect $617,000 less in property tax revenue than this year if it keeps its current rate of $5.17 per $1,000 of assessed value.

The $617,000 decline added to the $500,000 deficit the county already expected for 2012.

Some Marathon County Board members, including John Durham, think the county has no other choice but to raise taxes.

"Nobody wants to raise taxes, but there comes a point; it's been $5.17 for a long time, and I think it's going to have to move," Durham said. "We have to look at the impact on people, and I think there's going to have to be some kind of increase, but I don't know how much

The chair of the county's Finance, Properties, and Facilities Committee still wants the County Executive to prepare a worst-case-scenario budget, i.e., one with $1,100,000 in cuts.  A tax increase at the maximum amount permissable by current state law would still leave a deficit of between $100,000 and $125,000, according to the county's Finance Director.

Other Wisconsin county and municipal budget news.
Sheboygan's Strategic Fiscal Planning Committee to determine what city will look like.  (8/19/2011)
Brown County Exec looks at same tax levy, impact on services to be determined.  (8/18/2011)
City of Shawano wrestles with $128,000 deficit.  (8/16/2011)
Possible double whammy for Shawano City-County Library.  (8/15/2011)
Portage County Executive looks to "create a bridge to a new design, a way of functioning on less".. (8/15/2011)
Antigo cuts fire, police positions.  (8/15/2011)
Adding up the budget numbers in the Fox Valley.  (8/14/2011)
Sauk County officials ask for input.  (8/12/2011
Marathon County ranks services to address $500,000 budget shortfall.  (8/12/2011)
City of Beloit faces a challenging budget process.  (8/8/2011)
Fond du Lac city manager sez Governor's tools not enough to offset cuts.  (8/2/2011)
Manitowoc mayor asks department heads for 10% budget cuts.  (8/2/2011)

No comments: