Property taxes lowered in city of Kewaunee
The Kewaunee City Council unanimously Tuesday night approved a 2016 budget of $7,870,631, which includes the $4.2 million it will receive from the state for the Kewaunee Harbor project.
Revenues are expected to be $7,364,355 and expenditures total $7,870.631. This leaves a deficit of $506,276. City Administrator Kyle Ellefson said that the deficit will be met by carrying highway funds over from previous years.
The total tax levy approved was $1,192,593.64, including $941,007.32 for the general fund, $223,085.44 for debt service and $28,500.88 for the capital projects reserve fund. This reflects a 3.06 percent increase from the $1,157,203 levy in 2015.
Ellefson said that city of Kewaunee residents will see a 13 to 16 percent decrease in their property taxes this year. This is primarily due to a 20.68 percent decrease in the mill rate for Kewaunee County, caused by the current assessment levied by the Town of Carlton for the closed Dominion Power Station and a 33.87 decrease in the Kewaunee School District mill rate, also due to the current valuation of the plant.
Ellefson said that the decrease will average about 15 percent on a home valued at $100,000. He said property owners should be aware that property taxes may increase again once the court case between the Town of Carlton and Dominion is settled and a final assessed value of the closed plant is determined. The court case is scheduled to go to trial Nov. 7-11, 2016, in lieu of a settlement.
Kim Dax, business manager for the Kewaunee School District, said that depending on the final valuation of the plant, the school district’s levy could swing up or down in future years. She said that the school district is meeting with a financial consultant to plan for future fluctuations.
Dominion’s lawsuit charges that for 2015, not withstanding the inoperability of the station, the town’s assessor valued the station’s parcels at a rate of $246,743,000 and valued the personal property of Dominon’s parcels at $210,655,600.
Under the suit, Dominion claims that the fair market value of the plant on Jan. 1 was zero and the fair market value of the personal property was no higher than $1,283,500.
This article originally appeared on Green Bay Press Gazette: Property taxes lowered in city of Kewaunee