Net New Construction & the 2019 Budget
Net new construction is used to calculate increases to our budget
Numbers for 2018 net new construction, which are used to calculate the amount of money a city like Wauwatosa can increase our budget in 2019, were recently released. We ranked 5th in Milwaukee County for net new construction, down from our 1st in net new construction in 2017.
2018 Net New Construction in Milwaukee County
- Oak Creek (3.32%)
- Greenfield (2.14%)
- West Milwaukee (2.11%)
- Milwaukee (1.66%)
- Wauwatosa (1.55%)
What is important to note from these numbers is that the 1.55% is less than inflation, so we are unable to increase property taxes at the same rate as the costs of doing business increase. For the first year, Wauwatosa will have to use our excess levy capacity to balance the budget.
In previous years, we have banked our excess levy capacity for just this reason, but the intent was to use it only until there is a legislative fix to the state law allowing municipalities to stop relying on net new construction or development to balance their budgets. That time is here. We encourage you to contact you state elected officials to discuss this issue. You can find their contact information at https://myvote.wi.gov.
Full data on net new construction is available at the Wisconsin Department of Revenue website at www.revenue.wi.gov.