|11/4/2019 11:44:00 AM|
Area school districts finalize tax rates
Area school districts have set their mill rates for the next budget year after receiving the final tally from the State.
In most cases the mill rate shows a decrease. The mill rate is the amount of tax payable per dollar of the assessed value of a property. The mill rate is based on "mills." It is a figure that represents the amount per $1,000 of the assessed value of the property, which is used to calculate the amount of property tax.
Since arriving at the figure depends largely on how land is assessed, property in Wisconsin is valued higher than last year.
Following are the rates from area school districts.
The levy rate in the Dodgeville School District dropped to 10.11 mills. This is down from 10.89 mills in the 2018-19 school year.
"An interesting sidelight is that, when we vote to authorize the building of the auditorium and gymnasium, we anticipated an increase to a levy rate of 11.2," said District Administrator Dr. Jeff Jacobson. "All of this is good news for Dodgeville School District taxpayers."
The total levy is $4,527,044, an increase of 10.44% over last year. The vast majority of that is from the operating referendum for $350,000 that was passed and then the mill rate on that dollar amount on that levy will be a flat $12. It was conservatively projected to be 13.85. It was a favorable bond rating, along interest rates and increased property values. With some cuts that were made, the district was able to keep the mill rate at $12.00 making only a .67 increase.
Superintendent Mitch Wainwright said, "you hate to have taxes to go up no matter what, but considering it could have been $2.50 more but in final figures it was only 67 cents more. I think that was something that was very good for the taxpayers."
The total Levy, decreased 1.19 totaling 1,356,459.
The mill rate ended up being 12.40
The tax levy was approved at $3,099,349. This is up $40,322 from last year. This money is used to cover the general, special education, non-referendum, food service and community service funds for the 2019-2020 school year. The mill rate decreased from 11.78 to 11.33 which was a part of the strategic plan when the recurring referendum was approved by taxpayers.
Meeting to certify the levy was set for Wednesday (last night).
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