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The 2024 International City/County Management Association (ICMA) Annual Conference, held in Pittsburgh, Pennsylvania, brought together thousands of local government professionals from around the world to connect and learn from one another about emerging trends and challenges facing our local communities.
What if the path to sustainable economic development is hidden in the complexities of tax increment financing (TIF)? In a recent conversation with John Kovari, author of the newly published book, Tax Increment Financing: A Practical Guide for Analyzing TIF Risks, Benefits, and Outcomes, we explored the complexities of TIF and its implications for local governments.
Tax increment financing (TIF) is the most innovative economic development tool used by local governments today. While it is frequently used, it is also extraordinarily complex, which brings with it some degree of misunderstanding and controversy. Generally speaking, TIF is a tool utilized by local governments, usually in partnership with a private developer, to help make struggling real estate projects a reality.
A report by the nonpartisan Public Policy Forum was recently released, highlighting the City of Milwaukee’s unique reliance on property taxes and state aid compared with peer cities, which utilize sales and income taxes at higher rates. Why might this be a problem? Other than being unique, a heavy reliance on property taxes and state aid hurts the city’s ability to generate adequate funds for basic services, such as police and fire protection.
A great public university should serve the needs of the entire state, not just the college-age students on its own campus. It sounds like common sense, but we’re in danger of losing sight of that goal.As members of the University of Wisconsin-La Crosse faculty, we know how our colleagues in UW Extension address needs throughout La Crosse County, and we support them in their efforts.
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