Politics & Government
Funds Coming Richfield's Way Rise under New Local Government Aid (LGA) Formula
The amount of LGA money that Richfield is due will increase in 2014 by almost 60 percent, now that the Minnesota Legislature has set the dollar amounts cities can expect.
Changes to the formula Minnesota state government uses means the City of Richfield is due to get 59 percent more in Local Government Aid (LGA) funds in 2014 than in 2013.
The omnibus tax bill passed the Minnesota Senate 36-30 just a few minutes before midnight Monday, May 20, 2013—the legislative session's legal deadline. According to Session Daily, "the bill would make changes to the distribution of local government aid through a new formula. Counties and townships would also see an increase in state aid—all in an effort to lower property taxes, supporters say."
Richfield's share of LGA money for 2013 is $1,218,346. The new figure for 2014: $1,937,871—an increase of $719,525.
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Related:
- MN House Research: Local Government Aid Lookup tool
- Patch:
- Patch: Mayor Goettel Joins Governor's Tax Reform Task Force
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