Fiscal and Economic Impact Analysis of Local Development Decisions
Report on the Fiscal and Economic Impacts of Local Development Decisions
Land use decisions by local governments have profound effects not just for their communities, but also for the region as a whole. By understanding both the local and regional implications of municipal fiscal policies, officials can be more effective in seeking to achieve and sustain livability for their residents in the long term. GO TO 2040 encourages local governments to plan comprehensively for future development, and to support development that is both regionally and locally beneficial. As such, it is important for the region to have the best information possible about how our fiscal policies drive land use decisions and about the resulting impacts on the regional economy, jobs, and principles of livability as addressed in GO TO 2040.
To provide better local information on the impacts of development, CMAP has released a new report, Fiscal and Economic Impact Analysis of Local Development Decisions. This report contains a case-study analysis of the fiscal impacts of 31 developments in 10 of the region's communities, as well as an assessment of regional economic and market impacts. The focus of this report is on municipal fiscal impacts, although some analysis of other districts is provided. While each case study exists within a unique set of localized market and fiscal conditions, CMAP has identified several trends regarding fiscal impact practice, revenue sources, and infrastructure and service costs.
This report builds on prior CMAP analysis of local fiscal and regional economic impacts and the work of the Regional Tax Policy Task Force. For more information about the report, read the CMAP Policy Update.