2019 GASB-77 Update on the Largest American Cities

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Updated 01/21/2020

 

Statement No. 77 on Tax Abatement Disclosures (GASB 77) set forth by the Governmental Accounting Standards Board (GASB) requires compliant public budgets to report how much revenue the government body loses yearly to economic development tax abatement programs. Good Jobs First tracks these disclosures as part of its mission to promote transparency and accountability.

Of the 100 largest U.S. cities, 42 have published their Comprehensive Annual Financial Reports for FY 2019 (as of January 17, 2020). 28 of them complied with GASB Statement No. 77 and disclosed $4.4 billion in foregone tax revenue. See the chart below to see the cost of economic development incentives for each of these cities over the past three years. 22 out of the 28 cities witnessed abated more taxes in 2019 than 2017. Click on the link below to download the excel spreadsheet, which contains the details about the 130 tax abatement programs reported in FY 2019. Scroll to the bottom of the page for the 13 cities that did not provide GASB 77 information in FY 2019. Click here for 2018 numbers for all 100 cities. To learn more or report an error, please contact Christine Wen (chris@goodjobsfirst.org).

Note: GASB 77 disclosure reflects only the revenue loss for the reporting jurisdiction. The revenue loss may be self-incurred or resulted from abatements entered into by other governments. Therefore, the numbers below are the cities' portion of taxes abated and do not include revenue lost by counties and school districts.  

 

Download the excel spreadsheet to see program details (xlsx, 30 KB)

 

State

Reporting jurisdiction

2019 Taxes Abated

2018 Taxes Abated

2017 Taxes Abated

Arizona

Chandler

144,941

132,297

111,091

Arizona

Phoenix

7,146,000

4,830,000

3,697,000

Arizona

Scottsdale

181,552

121,653

155,840

California

Anaheim

932,000

1,035,000

929,000

California

Riverside

599,000

327,000

135,000

California

San Jose

358,000

104,000

 

Georgia

Atlanta

6,600,098

4,523,000

3,284,000

Hawaii

Honolulu

29,298,000

15,694,806

21,459,000

Kentucky

Louisville

12,696,284

13,110,523

12,549,576

Maryland

Baltimore

28,439,000

27,953,000

23,490,000

Massachusetts

Boston

83,345,000

96,155,000

92,645,000

Michigan

Detroit

20,589,824

38,744,282

35,966,327

Missouri

Kansas City

97,692,000

100,957,000

89,811,000

Missouri

St. Louis

25,634,000

6,286,000

5,250,000

Nevada

Henderson

7,633,133

5,341,052

4,927,784

Nevada

Las Vegas

3,550,999

2,289,618

4,809,559

Nevada

Reno

1,780,753

1,809,403

4,271,111

New Mexico

Albuquerque

920,704

1,079,170

2,488,717

New York

Buffalo

25,822,062

17,845,618

10,340,465

New York

New York

3,802,359,000

3,540,095,000

3,389,468,000

Oklahoma

Oklahoma City

4,220,000

4,060,000

2,857,000

Oklahoma

Tulsa

1,065,000

579,000

501,000

Oregon

Portland

12,194,139

11,576,496

7,087,489

Tennessee

Memphis

17,531,000

16,743,000

9,731,000

Tennessee

Nashville

8,782,711

6,605,724

4,923,900

Texas

Houston

143,400,763

140,814,427

135,101,581

Virginia

Norfolk

6,625,502

9,588,326

3,187,559

Virginia

Virginia Beach

1,771,582

1,749,621

823,017

 

 

The following cities did not provide GASB 77 information in their FY 2019 Comprehensive Annual Financial Reports:

Fremont, California

Irvine, California

Oakland, California

San Diego, California

San Francisco, California

Santa Ana, California,

Stockton, California

Durham, North Carolina

Greensboro, North Carolina

Winston Salem, North Carolina

Philadelphia, Pennsylvania

Chesapeake, Virginia

Richmond, Virginia

 

Related links:

GASB 77 reporting by state governments in 2019

GASB 77 reporting by the 100 largest Cities in 2018

 

 

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