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Showing posts from October, 2022

The New Economy and the Future of Municipal Finance

There are several obstacles to overcome when adapting city finances to the new economy. As more possible sources of money lie outside of municipal taxation authorities, there has been a diversification in local revenue arrangements. Many communities rely heavily on money from regional shopping complexes, even though these malls are often exempt from local taxes. As state and federal funding decrease, local governments often find themselves unable to raise taxes to make up the difference. Concurrently, several government agencies have open positions on their teams. In light of these considerations, it's possible that different jurisdictions would merge their administrative structures and services to cut costs and increase efficiency. The ability of a community to achieve its goals may be enhanced by pooling its resources and tax bases. Many rural school districts, for instance, have merged in recent years to gain access to additional funding and upgrade facilities. Consolidations c