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City staff warns state property-tax study and oversight could threaten local ad valorem revenue
Summary
Finance staff told the commission a recent executive order and legislative measures require municipalities to submit revenue and expense data; commissioners warned the state’s attention to reserves and tax policy could reduce ad valorem funding that supports local services.
City finance staff told commissioners the governor’s office and legislative actions are expanding oversight of local-government finances and require municipalities to submit extensive revenue and expenditure data as part of a property-tax study. Director of Finance Lori Erwin said officials at the state level have asked for broad data and that the staff’s experience compiling those numbers had been hampered by vague guidance.
Erwin…
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