Bonduel budget approved

Tax levy to rise more than tax bills
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Taxes in the village of Bonduel will see an increase next year, but not as high as it might have been, thanks to some offsetting savings from school and technical school assessments, according to Village Board member Barb Wickman.

The total tax levy for 2019 will be $591,015, an increase of 8.05 percent over the 2018 budget. The board also approved a Tax Incremental Financing levyof $308,088. With TIF financing, the village uses a formula to use tax money to create or improve infrastructure in the TIF area.

The total village budget for 2019 is $881,051. The budget and tax levy was approved Dec. 5 at the regular village board meeting.

Of that, $142,500 will be used for general govertment; $279,534 will be used for public safety; $217,190 for public works; $178,163 for culture and recreation and $63,664 for conservation and development.

The tax rate will go from $7.39 to $8.12 per $1,000 of property valuation, an increase of 73 cents over last year.

For a family with a home worth $100,000, that represnts an increase of about $73, Wickman said. However, with the offsets from the schools, the total tax rate will stay about the same as last year.

The timing was fortunate this year, she said.

“One of our obstacles this year was equalized value dropped $5 million in residential property. That’s a lot for a little town,” Wickman said. “The reason is that so many houses were sold under their value. What that does is affects assessed valuation, including what taxes are actually paid.”

This means that after taxes are assessed, there would not be enough value in the properties to meet the village budget, Wickman said.

Other factors impacting the budget include a loss of $10,000 in state transportation aids and a loan payment going up next year. The board also anticipates the need to buy a new squad car, which they plan to pay for over a two-year period.