This is Christmas before the time for the taxable residents of this city: after having paid too much tax since 2012, a bill provides for a colossal reimbursement.
Excellent news for the inhabitants of this city. The funds overflow, the public accounts are in good shape, and the record surplus will be donated directly to taxpayers; If the bill, which will be subject to a referendum is validated. Result: an annual reimbursement of the equivalent of 2,700 euros to each citizen, for 10 years. Unheard of!
Indeed, since 2012, public finances have displayed a incredible surplus. No small surplus, but a cumulative total of 3.3 billion euros over a decade. The debt was erased to the point that the debt ratio has passed in negative territory, in short an extremely rare fact. So how did this city get there? Thanks to a flourishing local economy. The economic fabric attracts prosperous companies and an active population, ensuring regular and solid tax revenues. The city has also chosen to keep 20% of the surpluses each year, a reserve to ensure possible economic crises or other budgetary unforeseen events.
At the same time, budget management is strict: no unnecessary expenses or futile projects, but targeted investments and clear priorities. In addition, despite a drop in taxes voted by referendum in recent years, the profits have continued to accumulate to the point that for the year 2024, an additional surplus of 114 million euros is planned … So where these lucky few live? In Basel-Ville, Switzerland. You will understand, between this financial overflow, this economic attractiveness and this redistribution, everything works there as a well-oiled mechanics.
Faced with this unprecedented situation, local elected officials decided to take action. A motion was adopted to redistribute 80 % of the annual surpluses directly to citizens, in the form of tax credits. The objective? Reward taxpayers and stimulate the local economy by restoring purchasing power to households. Companies are excluded from the system.
This reimbursement is reserved for individuals, according to a calculation proportional to the amount of their taxes. So the more you have contributed, the more you will receive in return. On average, this measurement represents 2,700 euros per year and per resident. With a population of around 200,000 people, this is equivalent to a total redistribution of 268 million euros per year; But around 70% “only” of the population is concerned.
