Wednesday, August 24, 2011

Declining Property Values Pose a Challenge to Columbus Budget Development

Declining property values challenge to Columbus. (Portage Daily Register, 8/18/2011)

Excerpt: City administrator Boyd Kraemer informed the Columbus City Council on Tuesday night that real property value in the city is down by 2.06 percent according to the 2011 statement of assessment.

That is a drop of $7.57 million.

"That will definitely affect our budget considerations moving into 2012," Kraemer told the council.

By state law, the city's debt limit is capped at 5 percent of real property value.

"We're going to be bumping that debt limit by the state very soon," Kraemer said. "The city is going to be caught in a bind. As much as you want to do, you are not going to be able to do."

"We are going to be fiscally challenged going forward," Kraemer said.

The council will soon take up the 2012 city budget in earnest - along with the 2012-13 capital improvement projects plan.

Kraemer will present the preliminary 2012 city budget to the council on Sept. 20. The first council work session on the budget is set for Oct. 4.

A public hearing is scheduled for Nov. 8, with adoption scheduled for Nov. 15.

Dec. 6 is the target date for approving the 2012-13 capital improvement projects budget

Other Wisconsin county and municipal budget news.
Whitewater council looks at 0% tax levy increase.  (8/24/2011)
Janesville residents asked to make tough choices in online budget scorecard.  (8/24/2011)
Village of Darien officials ask for input on 2012 budget.  (8/24/2011)
City of Marshfield has some wiggle room in its 2012 budget development.  (8/24/2011)
Soglin on 2012 Madison budget:  "Every service we rely on is vulnerable".  (8/23/2011)
With a ballooning budget deficit, Marathon County considers a tax increase.  (8/23/2011)
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)

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