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Finance committee says 2024 income-tax collections hit about $30 million; Q4 down 1.6% from prior year
Summary
The finance committee reported fourth-quarter income-tax receipts of $6.76 million and total 2024 collections of roughly $30.0 million — an all-time high — though Q4 receipts were 1.62% lower than the prior year's fourth quarter. Staff said the 2024 total is finalized and any refunds will appear on 2025 expense reports.
The City of Green’s Finance Committee reported that income-tax collections for the fourth quarter of 2024 totaled $6,759,496.90, a decline of about 1.62% from the same quarter in the prior year, but that total collections for the year ending in that fourth quarter were reported at roughly $30.0 million — the committee characterized that as an all-time high.
Councilmember and Finance Committee Chair Neugebauer (S7) said the city received the statement on Feb. 4 from the tax administrator and noted the year-to-year increase of about 2.48% over the previous year's total. Committee members asked whether refunds or timing effects could change the 2024 figure; a tax department representative (S9) said the 2024 totals were finalized and that any refunds would be recorded on the expenditure side in 2025. "Typically, as people file here in '25, they'll be reflected of 2024 overpayments," the representative said.
The committee accepted the report, asked administration to continue monitoring late-filed refunds that could affect future-year accounting, and adjourned its brief meeting.
