HomeMy WebLinkAboutResolution 2022 (25) Resolution No. 25 (2022)
T. R%O 11d UNTY RESOLUTION TO REQUEST STATE REVISE THE CURRENT REAL
ESTATE TRANSFER FEES REVENUE SHARING FORMULA
COVER MEMO
TO: County Board of Supervisors
FROM: Ken Witt, County Administrator
Ellen Denzer, Director, Community Development
DATE: July 5, 2022
AGENDA ITEM: Resolution to Request State Revise the Current Real Estate Transfer Fees
Revenue Sharing Formula
BACKGROUND INFORMATION
Resolution No. 25 (2022)
T. R%O 11d UNTY RESOLUTION TO REQUEST STATE REVISE THE CURRENT REAL
ESTATE TRANSFER FEES REVENUE SHARING FORMULA
1 WHEREAS, the collection of a real estate transfer fee by counties was mandated by the State of
2 Wisconsin in 1969, and included a requirement that counties remit 50% of all transfer fees collected to the
3 State; and
4
5 WHEREAS, in 1981 the State changed the transfer fee formula to require counties to remit 80%
6 of all transfer fees collected to the State; and
7
8 WHEREAS,the County,through the Register of Deeds Office,assumes the annual operating costs
9 of recording all real estate transfers occurring in each county,including the collection of real estate transfer
10 fees; and
11
12 WHEREAS, St. Croix County real estate transfer fee collections over the past five years totaled
13 $12,202,128.20 of which the County retained$2,440,425.60 and $9,761,712.60 was remitted to the State;
14 and
15
16 WHEREAS,using a 50150 split,the County's share of fees collected on local real estate transfers
17 during that same five-year period would have provided an additional $3,660,638.50 in support of local
18 government; and
19
20 WHEREAS,in 2021 the State of Wisconsin has built up a budget surplus of approximately $2.5
21 billion dollars, while many Wisconsin counties continue to struggle financially due to the ever-increasing
22 costs of providing county government services in an inflationary economy and providing services for
23 increasing unfunded State mandated programs along with the financial restrictions imposed by State
24 imposed levy limits.
25
26 NOW,THEREFORE,BE IT RESOLVED by the St. Croix County Board of Supervisors that in
27 an effort to assist all Wisconsin counties, the State of Wisconsin revise the real estate transfer fee share
28 formula to again allow Wisconsin counties to retain 50% of all real estate transfer fees collected,with 50%
29 to be remitted to the State.
30
31 BE IT FURTHER RESOLVED that a copy of this resolution be sent to Governor Tony Evers,
32 all members of the State Legislature representing St. Croix County, the Wisconsin Counties Association,
33 and all other Wisconsin Counties.
34
Le—gal—Fiscal—Administrative Approvals:
Legal Note:
Fiscal Impact: This would provide additional revenue to the County
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06/16/22 Community Development Committee RECOMMENDED
RESULT: RECOMMENDED [UNANIMOUS]
MOVER: Jerry VanSomeren, Supervisor
SECONDER: Shawn Anderson, Supervisor
AYES: Shawn Anderson, Scott Counter, Daniel Hansen, Jerry VanSomeren
ABSENT: Ryan Sherley
EXCUSED: Dick Hesselink
Vote Confirmation.
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St. Croix County Board of Supervisors Action:
Roll Call -Vote Requirement—Majority of Supervisors Present
RESULT: ADOPTED [UNANIMOUS]
MOVER: Daniel Hansen, Supervisor
SECONDER: Greg Tellijohn, Supervisor
AYES: Lind, Anderson, Long, Leaf, Koch, Adams, Berning, Ottino, Feidler, Ostness,
Counter, Hansen, Sherley, Tellijohn, Carlson, Barcalow, Swanepoel,
VanSomeren, Ramberg
This Resolution was Adopted by the St. Croix County Board of Supervisors on July 5, 2022
Christine Hines, County Clerk