Sturtevant property owners will pay more taxes next year; about 3-1/2 percent or 33 cents per $1,000 in assessed value.
The village is expected to level a mill rate of $8.89 per $1,000 in assessed value, up from $8.56 in 2015. Sturtevant’s portion of village tax bills will come to $1,333,50 for a home valued at $150,000; levy amounts from Racine Unified, Gateway and the County are added to that amount.
In her annual budget memo to board members, village Administrator/Clerk Mary Cole noted the decrease in state shared revenue and the increase in health insurance costs are the primary reasons taxes are going up, but it isn’t all bad news.
Sturtevant in 2014 experienced the highest growth rate in the county at 6.55 percent and saw an increase in the village’s equalized value; from around $503 million to $554,567,900. New state taxing formulas for municipalities limit levy increases to how much growth a community experiences in the prior year so Sturtevant trustees could technically vote to raise taxes by 6 percent, an increase Cole said is necessary to eliminate cuts to necessary village services like public works and police.
Cole did note the increase in overall value, though, keeps the impact to taxpayers to 3-1/2 percent.
“Without the increase, services will need to be cut back even more,” she wrote. “Keep in mind that the increase in equalized value will help offset the levy increase. This means that impact on property owners will be around three-and-a-half percent.”
The pain is expected to be relatively short-lived: When Sturtevant’s successful tax incremental financing district (TIF) closes next year, property owners are expected to see a 25 percent decrease in their annual tax bills; from $8.89 to $6.67 per $1,000 in assessed value.
Residents are invited to talk to trustees about the proposed 2016 budget at the statutorily required public hearing at 6 p.m. Tuesday at Village Hall, 2901 89th Street. Call (262) 886-7200.