Unallotment Again
It looks like the governor and legislature failed to reach any agreement on the budget last night. The governor has said he will not call a special session, but will use vetoes to block tax increases and then line item vetoes and unallotment to balance the budget unilaterally. As with the unallotment that happened at the end of last year, this will have an impact on Maplewood as the state will not deliver the previously budgeted Market Value Homestead Credit. At this point the details of MVHC unallotment are not know. I would not be surprised if, like in December, we lose it all.
The silver lining of this cloud for Maplewood is that, compared to many other cities, we get relatively little money from the state. We don't have any LGA (local government aid) to lose, for example. Still, losing MVHC is going to have a significant impact.
The silver lining of this cloud for Maplewood is that, compared to many other cities, we get relatively little money from the state. We don't have any LGA (local government aid) to lose, for example. Still, losing MVHC is going to have a significant impact.
Labels: finance
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