So we hear this rah-rah every year;
The population of Sioux Falls now is estimated at 190,750, according Director of Planning and Development Services Jeff Eckhoff.
The new total is 3,550 more people than year, marking a 1.9 percent growth rate. Last year, the city grew by 2.1 percent.
Since January 1, 2000, the city has seen a 67,000-person increase in our population. The last U.S. Census Bureau estimate in July 2018 showed a 4,995 increase—or 2.82 percent increase. By 2025, the population of Sioux Falls is projected to be 208,000.
Eckhoff said population figures relate to housing units required, and housing units consume land area; therefore, the land area needed is directly tied to the population figures within annual estimates and projections.
It’s going to be interesting to hear the ACTUAL population of Sioux Falls after the official census. It could be higher, but my guess is it will either be close to the estimate or lower.
While using housing units is ONE way to get an idea of population increase, it’s probably not that accurate because it is based on averages. I would like to see how many death and birth certificates were issued in Sioux Falls last year. I would also like to know how many minors moved to Sioux Falls last year with parents. My guess based on some figures from a few years ago, a big part of our population growth has to do with newborns.
Like I said, the Census will give us a better idea of the actual population. It will also give us a clear view of our workforce (how many people actually have full-time jobs that are not retired or minors). One reason why the city started bragging about these projections started with the former mayor, because population is tied to our bond rating, and the more people we have, the more we can borrow. I have often said that rating should only be tied to adults that are working full-time and NOT to minors, retired folks or part-timers.
More people equals more TIFs. Better known as the growth paradox.
This city is transients except for one percenters. Many come here and find a job only to discover they can’t afford the cost of living. There’s more crime because this is a drugs transport crossroads. Ratio wise, there’s a tremendous increase in the prison population. There will be transition and population surge but it will be mostly temporary types on their way to ND and WY oilfield and union work in Minneapolis.
Keep in mind, I mentioned this a month ago, I highlighted the fact the “City” is in a economic and population boom.
I also began looking at the trends of our sales tax and property tax collections which are ‘assessed’ directly on our properties. If you recall – I made the effort to show how if we cut our ‘sales tax rate’ from 2.00% to 1.75% a 12% cut in the rate, and held it for a 5 year period – thanks to the population growth, and many state and local policies that attract people to come here to invest in land, facility, property development, all of which creates jobs, more jobs means more ‘revenue’ for the city. Our “sales tax” growth does not go down, in fact it goes up, except for maybe the ‘first year’ of that plan.
As the “CITY” grows, it also expands its jurisdictional incorporated tax base, annexes new property, which changes the apportionment ‘we’ are able to collect from the State Property Tax.
When you look deeper into the numbers, you will see we collect several forms of misc-excises, imposts, and duties (user fees) as the Residents partake in commercial activity, do business inside the city limits, and use government services inside the city limits. These taxes/fees generate on their own just over $200,000,000 million per year. These taxes and fees typically are used to pay for the services provided, but also to manage and enforce our ordinances, let alone help invest in public utilities, roads, and infrastructure.
Now, add in the Sales Tax Collections – each resident contributes $675 per year @ 2.00% Rate. Not only does the “City” go out and promote the city, attracting tourists, so do the “residents” themselves as they invite their relatives, friends, and associates to come here to visit them. So you can argue – the Residents generate 100% of the Sales Tax revenues.
Property Tax Collections will continue to grow as well, and the “City” as every right under the LAW to grab its portion needed to manage its budget. “WE” voted as a council to grab $65,000,000 for 2020 and I suspect we may grab more every so often as funds are needed.
The balance our budget comes from Bonds, Refinancing those Bonds, and from State and Federal Loans, etc. This amounts to $100,000,000 per year.
Does this CITY have a ‘revenue’ problem? Answer that truthfully. I believe not. The “people” are playing their part by investing, saving, and spending money every year. Reward them for at least 5 years – cut the Sales Tax Rate by 12% to 1.75%.
I even believe we can as a State cut the rate of Property Tax, due to the fact we hand out so many T.I.F’s. Cutting the “RATE” would allow ALL CITIZENS to have a ‘tax credit’ which in turn allows them to invest in their properties, save money, thus Spend more money in the end.
@ 1.75% Sales Tax Rate – I believe over a 5 year period, with the expected growth, we still generate $130,000,000 to $140,000,000 million per year just in sales tax. We cut the rate once between 2006-2010 to 1.92%; we can do it again, but this time, our “Enterprise Funds” are in much better position, we have much better ‘growth’ than before, we then can continue to collect the same, if not more in tax revenues.
Sincerely,
Mike Zitterich
Sioux Falls.
Now, if we would just charge everyone, who lives in a taupe house, let’s say, just $10 more per year as a surcharge to their property taxes, then I think we could probably get rid of the city sales tax, fully subsidize JazzFest21, and buy the mayor maybe a couple of new ties, too.
In response to Fear and Loathing in Sioux Falls. I do not think that would get any votes, that would be a new ‘direct tax’ on our properties, while you could gain support in the legislature, I believe the it would fail to get the proper votes on a public ballot, which would required before the law goes into effect.
This might not be germane, but it appears to me, that the “Street Corner Revival” is ahead of the curve. Because isn’t it an inverse form of “on-demand,” that’s free and without the need of phone? The “SCR” driver should also be hired by the US Census to get the real count, if you ask me.