Fiscal Note
This resolution authorizes the scheduling of a referendum relating to exceeding the municipal property tax limits in the City. Under section 66.0602(4), Wisconsin Statutes, all counties, cities, villages or towns with a population over 3,000 may exceed their levy limit after adopting a resolution to exceed the levy limit, which is then approved in a referendum.
State law establishes the process for a referendum and the language to be used in the referendum. This resolution would authorize a referendum at the fall election (November 5, 2024). Referenda held at the fall election must use data provided by the Wisconsin Department of Revenue on August 15th. A resolution authorizing a referendum must be adopted no later than 70 days before the date of the election (August 25, 2024). The referendum language must include the purpose of the increase, the percentage increase in the levy due to the referendum increase, the dollar amount of the increase and the term of the increase. The language for the referendum is established under section 66.0602(4)(c), Wisconsin Statutes. The clerk must publish type A, B, C, D and E notices of the referendum under section 10.01(2), Wisconsin Statutes.
The resolution authorizes a permanent increase to the levy limit of $22 million, effective for the City's 2025 budget (January 1, 2025 to December 31, 2025), and property taxes levied by the City in December 2024 and collected in 2025. The purpose of the increase would be to fund police, fire, garbage collection, parks and library operations and other City services and operations. The cost-to-continue current services is estimated to exceed allowable revenues under state law by $22 million. The total allowable levy for 2025 under state law is $296.2 million, which reflects the net new construction factor calculation and estimated debt service. The estimated net new construction factor used in calculating that total allowable levy is 2.5%. The total allowable levy ...
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