Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the State Finance topic
No spam. Unsubscribe anytime.
Mayor says state revenue shifts have cost local governments billions, reads release
Summary
Mayor Terry Matthews read a news release asserting local governments have lost more than $10.9 billion in state income-tax revenue since FY2012 and cited changes in the local share of net income-tax collections as the cause.
Mayor Terry Matthews used his report to read a news release outlining changes to state-local revenue sharing. He said local governments have lost more than $10.9 billion in state income-tax revenue since fiscal year 2012 and added that reductions in municipalities' share of net income-tax collections — from 10% to less than 7% — have cost municipalities roughly $9.49 billion and counties about $1.44 billion since FY2012.
The mayor also cited broader state spending increases since 2019. His remarks were presented as a read statement; trustees did not record a board directive or vote related to the release during the meeting.
