MONROE - Could the city budget be a sign of economic recovery?
After years of trying to hold the city's levy rate steady during a faltering national economy, the City of Monroe Finance and Taxation Committee is now eyeing a one percent reduction in the levy amount for 2014.
The City of Monroe came in about five percent under budget in 2012 overall, and it expects to come in under budget again for 2013.
The city levied about $6.50 million in property taxes for 2013, just $434 shy of the 2012 levy amount.
A one percent reduction for 2014 would amount to about $65,000.
Committee member Tyler Schultz first broached the one percent figure during a meeting Tuesday, as the committee made recommendations for City Administrator Phil Rath and department heads starting to prepare 2014 budgets.
Schultz also noted the tax reduction might offset some of the water and sewer bill increases residents could see next year.
Decreasing tax revenues brings a fear of limiting funds in the future, Chairman Reid Stangel noted. The state caps increases on municipal levies.
"Maybe there's some growth we can bank on," he added.
Stangel pushed last year for additional levy allowed for net new construction, about $28,500 for 2013 and another $30,700 for an allowable portion not taken in 2012, which would have added $59,000 to the levy, or about $3 of city taxes for a $100,000 home. The council rejected his proposal.
Monroe set aside about $700,000 for capital projects for 2013, thereby reducing the levy for those projects to $89,000.
The 2012 expense budget was planned to be about $9.3 million. Actual expenses as of Dec. 31, 2012, were about $8.8 million. The unspent dollars go back into the general funds as unassigned money.
Brooke Bauman was absent from the meeting Tuesday.
After years of trying to hold the city's levy rate steady during a faltering national economy, the City of Monroe Finance and Taxation Committee is now eyeing a one percent reduction in the levy amount for 2014.
The City of Monroe came in about five percent under budget in 2012 overall, and it expects to come in under budget again for 2013.
The city levied about $6.50 million in property taxes for 2013, just $434 shy of the 2012 levy amount.
A one percent reduction for 2014 would amount to about $65,000.
Committee member Tyler Schultz first broached the one percent figure during a meeting Tuesday, as the committee made recommendations for City Administrator Phil Rath and department heads starting to prepare 2014 budgets.
Schultz also noted the tax reduction might offset some of the water and sewer bill increases residents could see next year.
Decreasing tax revenues brings a fear of limiting funds in the future, Chairman Reid Stangel noted. The state caps increases on municipal levies.
"Maybe there's some growth we can bank on," he added.
Stangel pushed last year for additional levy allowed for net new construction, about $28,500 for 2013 and another $30,700 for an allowable portion not taken in 2012, which would have added $59,000 to the levy, or about $3 of city taxes for a $100,000 home. The council rejected his proposal.
Monroe set aside about $700,000 for capital projects for 2013, thereby reducing the levy for those projects to $89,000.
The 2012 expense budget was planned to be about $9.3 million. Actual expenses as of Dec. 31, 2012, were about $8.8 million. The unspent dollars go back into the general funds as unassigned money.
Brooke Bauman was absent from the meeting Tuesday.