NMCO - Where Are Munis Getting Their Money?
By Patricia Healy, CFA, Senior Vice President of Research and Portfolio Manager
Municipalities derive their revenues from many sources. At the state level, sales taxes, personal income taxes, and corporate taxes are the largest sources of revenue; and there are other taxes and fees that states can raise. We've all seen them, from gas taxes and fees to gambling and lottery revenue. Local governments and school districts levy property taxes as their major source of revenue, and essential service utility systems derive revenue from the fees charged for services. Mass transit bonds are secured partly