MONROE - The Monroe Common Council will be split Tuesday going into a special meeting for possible approval of the 2015 budget and a $6.73 million levy, which is more than 7 percent above the 2014 levy amount.
City Administrator Phil Rath said Friday the final levy amount approved may be less than the proposed budget recommended to the council by the Finance and Taxation Committee in October.
The city will consider paying its debt on two new fire trucks purchased this year. The debt fund, all of which will hit the tax levy, will be increased by $480,000 above normal debt expenditures, if the Council goes forward with the payoff, using 2015 tax revenues.
That would bring the total 2015 tax rate for the city budget to about $10.39 per $1,000 or property value, which means a city tax bill of $1,039 on a $100,000 home - or about $60 more than in 2014.
Without the additional payoff amount, and leaving just the other debt payments in place, the levy would fall to about $6.25 million, or $9.65 per $1,000. The owner of a $100,000 home, in this case, would pay $965 in city taxes - which would be about $14 less than the taxes paid in 2014.
The 2014 levy amount was $6.27 million, with a tax rate of about $9.79 per $1,000. The $100,000 home would have been billed about $979 in 2014.
Property assessed values in the city have gone up since last year, from about $640.69 million to $648.06 million.
The tax rate is determined by the total levy amount - how much the taxing entity is asking taxpayers to pay to balance out the budget after other revenues are included - divided by the assessed value of most all the property in the city.
The Common Council will meet at 6 p.m. Tuesday at city hall to consider the 2015 proposed budget.
City Administrator Phil Rath said Friday the final levy amount approved may be less than the proposed budget recommended to the council by the Finance and Taxation Committee in October.
The city will consider paying its debt on two new fire trucks purchased this year. The debt fund, all of which will hit the tax levy, will be increased by $480,000 above normal debt expenditures, if the Council goes forward with the payoff, using 2015 tax revenues.
That would bring the total 2015 tax rate for the city budget to about $10.39 per $1,000 or property value, which means a city tax bill of $1,039 on a $100,000 home - or about $60 more than in 2014.
Without the additional payoff amount, and leaving just the other debt payments in place, the levy would fall to about $6.25 million, or $9.65 per $1,000. The owner of a $100,000 home, in this case, would pay $965 in city taxes - which would be about $14 less than the taxes paid in 2014.
The 2014 levy amount was $6.27 million, with a tax rate of about $9.79 per $1,000. The $100,000 home would have been billed about $979 in 2014.
Property assessed values in the city have gone up since last year, from about $640.69 million to $648.06 million.
The tax rate is determined by the total levy amount - how much the taxing entity is asking taxpayers to pay to balance out the budget after other revenues are included - divided by the assessed value of most all the property in the city.
The Common Council will meet at 6 p.m. Tuesday at city hall to consider the 2015 proposed budget.