Mayor Jerry Tepper praised the department heads, city staff and all city employees for the efforts that led to a decrease of $66,714 in the city's budget for 2012. Without the hard work put in by the department heads to develop budgets that met the goal of maintaining services without increasing spending and without the cooperation of employees in paying more for their fringe benefits, the Common Council's budget challenge would have been even greater.
The council on Monday adopted an $18,899,972 budget with a tax levy of $12,135,043. The levy is up $77,891, the exact amount of increase in the city's debt service fund levy. Under state law, the city is allowed to increase the levy for debt service.
The tax rate for the city's portion of the taxes will increase to $7.64 per $1,000 of assessed value, up from $6.83 per $1,000 a year ago. However, because of a citywide revaluation of property done this year, the impact on individual property owners will vary.
City Administrator Richard Maslowski said a home valued at $200,000 last year is now valued at $177,400. The city's tax on that house for 2012 would be $1,355, a drop of $10 or 1 percent from the tax of $1,366 last year.
Residential property in the city dropped an average of 10.8 percent in the revaluation. If your house dropped 10.8 percent or more, it is likely the city portion of the tax bill will decrease. If it did not drop that much, the city portion will likely increase.
Your link to the biggest stories in the suburbs delivered Thursday mornings.
Enter your e-mail address above and click "Sign Up Now!" to begin receiving your e-mail newsletter Get the Newsletter!
- North Shore Police Reports: October 23, 2014
- North Shore Police Reports: October 16, 2014
- North Shore Police Reports: October 9, 2014
- North Shore Police Reports: October 2, 2012
- North Shore Police Reports: September 25, 2014
- River Hills adopts sex offender zoning restrictions
- North Shore Police Reports: September 18, 2014
- North Shore Police Reports: September 11, 2014
- North Shore Police Reports: September 4, 2014
- North Shore Police Reports: August 28, 2014