The passing of the Shared Revenue Bill in Watertown is being celebrated as this will bring many benefits to the community.
The state will provide greater financial support to the city and there will be increased opportunities for innovation and collaboration in the services of the local government.
The bill will allocate one penny of the state sales tax to local governments in Wisconsin, which will translate into an increase of 27% for the city of Watertown. This will enable the city to provide essential resources for various needs in the community thereby alleviating the need to rely as much on the property tax.
News of such financial benefits to a city are often made known with flyer printing.
Mayor Emily McFarland said that cities such as Watertown are funded primarily by aid from the state and property taxes. She explained that the city is limited by law from generating other sources of revenue and the city has been faced with many difficult choices due to rising costs, while funding from the state has been at a similar level for many years.
She added that with local government being able to collect a portion of the state sales tax, the state will now share in supporting the local economy. She said that the city will now be able to respond to the needs of the community without making changes to the property tax.
