Milwaukee : State Data and Comparisons : Data-Z

Milwaukee, WI

TIA Data

2023 Financial State of Milwaukee (Released 02/27/2024)

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Milwaukee owes more than it owns.

Milwaukee has a -$15,100 Taxpayer Burden.™

Milwaukee is a Sinkhole City without enough assets to cover its debt.

Decisions by elected officials have created a Taxpayer Burden™, which is each taxpayer's share of city bills after its available assets have been tapped.

TIA's Taxpayer Burden™ measurement incorporates all assets and liabilities, including retirement obligations.

Milwaukee only has $1.3 billion of assets available to pay bills totaling $4.7 billion.

Because Milwaukee doesn't have enough money to pay its bills, it has a -$3.3 billion financial hole. To erase this shortfall, each Milwaukee taxpayer would have to send -$15,100 to the city.

Milwaukee's reported net position is inflated by $15.4 million, largely because the city defers recognizing losses incurred when retirement liabilities increase.

The city's financial report was released 207 days after its fiscal year end, which is considered untimely according to the 180 day standard.