Events in Detroit, Stockton, Flint, and Puerto Rico highlight the severe challenges related to fiscal systems that support public services and the continued stress they face given local governments’ shrinking revenue streams.

Whether you want to better understand public-private partnerships, debt and municipal securities, or leading land-based finance strategies to finance infrastructure projects, this Professional Certificate in Municipal Finance will give you the skills and insights you need as you advance your career in urban planning, real estate, or economic development.

Overview

Created by Harris Public Policy’s Center for Municipal Finance and the Lincoln Institute of Land Policy, this program provides a thorough foundation in municipal finance with a focus on urban planning and economic development. This course will include modules on the following topics:

• Urban Economics and Growth
• Intergovernmental Fiscal Frameworks, Revenues, Budgeting
• Capital Budgeting/Accounting and Infrastructure Maintenance
• Debt/Municipal Securities 
• Land-Based Finance/Land Value Capture
• Public-Private Partnerships 
• Cost-Benefit Analysis
• Fiscal Analysis for Land Use and Development Decisions

Participants will learn how to effectively apply tools of financial analysis to make strategic decisions and gain an improved understanding of the interplay among finance, urban economics, and public policy as it relates to urban planning and economic development.

Upon completion of the program, participants will receive a Certificate in Municipal Finance. 

Who Should Attend

Urban planners who work in both the private and public sectors as well as individuals in the economic development, community development, and land development industries.

Cost

Nonprofit and public sector: $1,080
Private sector: $2,025

The property tax plays a key role in the funding of public education in the U.S. In 2015-16, about 45 percent of the total revenue supporting elementary and secondary education came from local governments, and 81 percent of the local share came from property taxes. A central tenant of education finance in the U.S. is local control. A robust role for local funding is important if local citizens, through their school boards or local referenda, are going to have a meaningful voice in the operation of local schools. The consensus among public finance scholars is that the property tax has many positive attributes as a local government tax.

However, most state legislatures have enacted a variety of property tax limitations—on the property tax base, on rates, or on revenues. So how do policymakers assure that there is adequate funding for public education while maintaining a significant degree of fiscal autonomy for local school districts?

This webinar series explores the experience of three states that have enacted various types of property tax limitations and the efforts taken to ensure continued adequate funding for public education. Presenters from each state assess the effectiveness of those efforts and suggest possible policy reforms to ensure adequate funding for public education on an ongoing basis.

Speakers:

Daphne Kenyon (Resident Fellow in Tax Policy, Lincoln Institute of Land Policy) introduces the series by describing the role of the property tax in funding public education over time and across the U.S. She also serves as moderator for the series.

Julie Underwood (Professor of Education Law, Policy, and Practice and former Dean of the School of Education, University of Wisconsin-Madison) describes Wisconsin’s approach to limiting school property taxes. She also describes the increasing role of school choice across the state.

Laura Ullrich (Regional Economist, Federal Reserve Bank of Richmond) describes South Carolina’s tax swap, enacted in 2006, which reduced local property taxes and increased the state’s reliance on sales taxes. The talk focuses on the impacts of this tax swap on public education and highlights the consequences of replacing a relatively stable revenue source with a less stable one.

Lynn Moak (Managing Partner, Moak, Casey & Associates [school finance consultants]) discusses property tax restrictions and school funding legislation enacted during Texas’ most recent legislative session (HB3 signed into law in 2019). In this presentation, he also assesses the ongoing school funding challenges that remain.

Participant Outcomes:

• Learn about how three states try to both provide adequate funding for K-12 education and appropriate property tax relief.
• Learn about policy pitfalls and model policies that relate to school funding and property tax relief.