City budget reveals growth amid rising property values

In a recent government meeting, city officials discussed the upcoming budget for 2025, highlighting a balanced budget that aims to address the cost of living for employees while navigating changes in property values and tax levies.

The equalized property value in the city has seen a growth of approximately 6%, amounting to $38 million. However, this growth is notably less than that of neighboring townships, such as Farmington and Dayton, which experienced increases of 22% and 15%, respectively. This disparity could lead to a reduced tax burden for city residents if other tax levies remain unchanged.

Officials are currently awaiting finalized manufacturing numbers from the state of Wisconsin, which will impact the city's total assessed value. Projections suggest a modest growth of around 1%, bringing the total assessed value to approximately $633 million.

The property tax levy, which supports the general fund, is restricted by levy limit laws tied to net new construction. For 2025, this limit is set at 1.22%, resulting in a reduction of the general fund levy from $2,517,000 to $2,434,000. However, this decrease will be offset by an increase in state aid, which is projected to rise by about $28,000 due to an uptick in state sales tax.

Transportation aids are also expected to increase significantly, with a rise of $84,000, attributed to the city's investment in eligible transportation projects over the past six years. This increase is capped at 15% annually, indicating a potential for continued growth in future budgets.

The budget discussions also touched on personnel services, with no new full-time positions proposed for 2025. Negotiations regarding cost of living adjustments for employees are ongoing, as the city awaits a signed agreement with the union.

Additionally, the meeting addressed changes in emergency medical services, with Gold Cross Ambulance planning to add a fourth ambulance to better serve the region. This addition will result in a slight increase in costs for the city, while contracted fire services are expected to decrease by 2.68%, reflecting the city's slower growth in property values compared to surrounding areas.

Overall, the meeting underscored the city's commitment to maintaining fiscal responsibility while addressing the needs of its residents and employees in the face of changing economic conditions.