Area financial comparison shows diuering property tax, fund balances

Posted 2/16/22

New information from the Wisconsin Policy Forum sheds light on area municipal affairs, including property taxes, net basic spending, municipal debt per capita, and the overall fund balance for area …

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Area financial comparison shows diuering property tax, fund balances

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New information from the Wisconsin Policy Forum sheds light on area municipal affairs, including property taxes, net basic spending, municipal debt per capita, and the overall fund balance for area municipalities.

Starting out with property taxes, the Village of Gilman showed a property tax levy per capita (“per resident”) of $504, with the 2019 property tax share for Gilman residents at 56 percent. It is important to state in the “per capita” talk that this refers to total municipal population, rather than just actual or individual taxpayers.

For those calling the City of Thorp home, meanwhile, the average 2019 property tax bill was $300 per capita, with the residential share 62 percent of the municipal property tax levy.

For the Village of Boyd that shifted to an average payout of $283 per capita with residential property taxes making up 78 percent of the municipal tax levy.

Over at Stanley, the average property tax payout per capita was $118 with residential property taxes making up 63 percent of the municipal tax levy.

Closing out the property tax review at any rate is the Village of Lublin, where the average per capita pay-in was $64, while residential property taxes made up 72 percent of the local municipal tax levy for 2019, the closest year for which comparative data is available.

Shifting from property taxes to net basic spending, the Village of Boyd leads the field locally, with an average $655 per capita in net basic spending as of 2019.

Coming up next in the 2019 rundown, meanwhile, is the Village of Gilman, which saw $575 per capita in net basic spending per resident, followed by the City of Thorp, with $563 per capita in net basic spending. For Lublin, the net basic spending per head in the village was $469 as of 2019, while for Stanley it was $331.

It should be noted that a larger population can drive down the “per capita” spending of a municipality without rendering local services fewer.

Which brings us to debt in this our local municipal comparison.

Heading out the debt picture for local municipalities included in the comparison is the City of Thorp, with a total municipal debt per capita of $1,753, otherwise classified as 57 percent of the state imposed debt limit.

Following Thorp in the municipal debt picture is Stanley, with a total municipal debt per capita of $867, otherwise set at 51.6 percent of the state imposed debt limit. Following Stanley is Boyd, with a 2019 municipal debt per capita figure of $396, or 15.6 percent of the state-im posed limit.

Next up in the municipal debt comparison from the Wisconsin Policy Forum is Gilman, with $213 in per capita municipal debt for 2019, set at 8.2 percent of the state-imposed debt limit. Last but also least in dollar terms for the per capita debt comparison for 2019 is Lublin, where a figure of $0 per capita or zero percent of the state-imposed debt limit. Closing out the present financial comparison, then, is the fund balance for each of the presently compared municipali- ties, with slightly different figures from the debt picture. What’s left over for funds when it’s all said and done?

Coming out strong in first place for the lo cal area is Gilman, with a 2019 fund balance of $3,000 per capita, or 180.8 percent of net operating spending for the Highway 64 community.

Next on the list for 2019 fund balances is Thorp, with a figure of $921 per capita in its fund balance, set at 99.2 percent of net operating spending. Coming in after Thorp in the fund balance comparison is Stanley, with a figure of $595 per capita for its 2019 fund balance or 136.8 percent of net operating spending. Following Stanley is Boyd, with a 2019 fund balance of $566 per capita, otherwise 49.1 percent of its net operating spending. Closing out the comparison for fund balances is Lublin, with a 2019 per capita fund balance of $0, or zero per cent of net operating spending.