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1
2013 Budget Worksession August 21, 2012
AGENDANEW BUSINESS
FINAL STATE BUDGET AND FUNDING IMPACT.
1973
1975
1977
1979
1981
1983
1985
1987
1989
1991
1993
1995
1997
1999
2001
2003
2005
2007
2009
2011
0
500,000,000
1,000,000,000
1,500,000,000
2,000,000,000
2,500,000,000
3,000,000,000
3,500,000,000
4,000,000,000
4,500,000,000
5,000,000,000
Total City Aid/Sales Tax Revenue by Fiscal year
City Aid MN Sales Tax Revenue
State Revenues vs City Assistance
LGA Payment History
LGA Payment History
LGA Payment History
2013 LGA Distribution
Future Deficit
Statewide Business Property Tax
MVC
Mounting Minnesota Projected 2014-15 Def...
-$6,000,000,000
-$5,000,000,000
-$4,000,000,000
-$3,000,000,000
-$2,000,000,000
-$1,000,000,000
$0-
$1,103,000,000.0
0-
$1,058,000,000.0
0-$2,432,000,000.0
0-$525,000,000.00
Est. Re-turn MVC
Schools
Inflation
Forecast
Statewide Business Property Tax
Statewide Business Property Tax
Local Property Tax Increases far Outpace State
Tax Reform
Tax Reform
Tax Reform
MN State Budget (FY 2013)
Property Tax Aids & Credits (FY 2013)
Greater Minnesota Programs Cut
State Fiscal Impact on Cities19
State Local Government Aid annual payments have decreased $40 million from 2003-2012. The total State tax annual revenues over this time increased 31.3% or about $4.5 billion.
The City of Marshall will receive about $2.1 million in State LGA in 2012. Whereas, the State received about $19.9 million in sales and use taxes (2010) that were generated within the City of Marshall.
In 2011, the State eliminated the Market Value Credit Program, eliminating their $260 million property tax relief funding, and instead replaced it by shifting the tax burden primarily to commerical/industrial properties with impacts in taxes payable 2012.
2013 Budget Preparation LGA20
LGA 2012 Certified = $2,110,608LGA 2013 Certified = $2,110,608
LGA is underfunded and needs to be increased in State funding.
LGA Formula Review…Again.Local government needs an alternative to
property taxes in funding. If the State is unable to provide funding then providing