AND POTENTIAL SOLUTIONS
In addition to drawing from hopefully healthy rainy-day funds, Lucy Dadayan, a principal research associate with the Urban-Brookings Tax Policy Center at the Urban Institute, offered these best practices for raising municipal revenue without directly raising property tax millage:
Public-Private Partnerships (PPPs) are
increasingly used to finance, build and operate major infrastructure projects.
The private sector provides upfront capital and assumes cost overrun risks in
return for future revenue.
Community Redevelopment Agencies
(CRAs) fund local revitalization by capturing and reinvesting increased
property tax revenues within designated zones, particularly in underserved
areas.
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