While not completely unexpected, the county’s equalized valuation and net new growth figures, released by the Wisconsin Department of Revenue Wednesday, Aug. 15, will alter the 2013 budget process in significant ways, Portage County officials said.
Equalized valuation fell 1.89 percent in 2012, after three previous years of similar decreases, and net new growth increased just 0.72 percent, following a year with just a 0.79-percent increase.
“The bottom line is that these financial figures today on equalized valuation and net new growth – the building blocks of our county budget – will cause us to have to reaffirm our priorities and redesign our way forward,” said Patty Dreier, Portage County executive. “This is going to call us to whole different level of action between now and when I present the budget on Oct. 2.”
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