MONROE - Expenditures are lower, but so is revenue as the city of Monroe looks forward to its 2016 budget.
The city budget lists a decrease of 0.68 percent in expenditures compared to this year. In the 2015 budget, expenses totaled $10,983,345. For 2016, the total is $10, 670,521.
On the revenue side, the 2016 total is $10,670,521, down from 2015's total of $10,843,709, a dip of 1.6 percent.
The Monroe Common Council approved the budget 6-2 last month. Alderman Michael Boyce and Alderwoman Chris Beer voted against the proposed tax levy of $7.06 million. The 2015 levy was slightly higher at $7.12 million.
The tax rate will be $10.82 per every thousand dollars of equalized value. The total is just lower than in 2015, when the rate was $11.01 for the city. An owner of a $100,000 home will pay $1,082 in city taxes next year. The owner of a $200,000 house will pay $2,165. Last year, those tax bills would have been $1,101 and $2,202, respectively.
Total assessed value in Monroe was $652,570,800, an increase of $23,476,700 from 2015, when it was $647,094,100.
Decisions made by council members during the Finance & Taxation Committee in October led to a lower total levy amount. City Administrator Phil Rath recommended the city pay off $150,066 in debt from 2010 bonds and a $76,000 portion of debt on bonds from 2006. The pay-off saves interest and eases the tax levy total.
Still, city finance director Bridget Schuchart said the change is not significant,
and that total taxes are affected by other entities such as the county, state and schools. Residents should expect to see totals similar to those in the past.
At that time, Alderman Reid Stangel said he thought residents would be glad to see the council paying off debt. Rath said the action of using funds saved by removing double bookings in budgeted areas would help lower tax rates by roughly $65,000, or about 9 cents per every $1,000 of assessed value. The committee members agreed to include the measure in the budget summary sent to the council.
During discussion at the council meeting Nov. 17, there was disagreement among aldermen regarding the proposed figures. Boyce said examination of the much lower rates within the township of Monroe points to less development within city limits.
"We have to address the difference between spending and growth," Boyce said. "There are many ways to skin a cat and I don't think this budget does it."
Stangel said he was happy to see a small increase prevail despite not reaching aldermen's goal of a 0-percent rate change.
The city budget lists a decrease of 0.68 percent in expenditures compared to this year. In the 2015 budget, expenses totaled $10,983,345. For 2016, the total is $10, 670,521.
On the revenue side, the 2016 total is $10,670,521, down from 2015's total of $10,843,709, a dip of 1.6 percent.
The Monroe Common Council approved the budget 6-2 last month. Alderman Michael Boyce and Alderwoman Chris Beer voted against the proposed tax levy of $7.06 million. The 2015 levy was slightly higher at $7.12 million.
The tax rate will be $10.82 per every thousand dollars of equalized value. The total is just lower than in 2015, when the rate was $11.01 for the city. An owner of a $100,000 home will pay $1,082 in city taxes next year. The owner of a $200,000 house will pay $2,165. Last year, those tax bills would have been $1,101 and $2,202, respectively.
Total assessed value in Monroe was $652,570,800, an increase of $23,476,700 from 2015, when it was $647,094,100.
Decisions made by council members during the Finance & Taxation Committee in October led to a lower total levy amount. City Administrator Phil Rath recommended the city pay off $150,066 in debt from 2010 bonds and a $76,000 portion of debt on bonds from 2006. The pay-off saves interest and eases the tax levy total.
Still, city finance director Bridget Schuchart said the change is not significant,
and that total taxes are affected by other entities such as the county, state and schools. Residents should expect to see totals similar to those in the past.
At that time, Alderman Reid Stangel said he thought residents would be glad to see the council paying off debt. Rath said the action of using funds saved by removing double bookings in budgeted areas would help lower tax rates by roughly $65,000, or about 9 cents per every $1,000 of assessed value. The committee members agreed to include the measure in the budget summary sent to the council.
During discussion at the council meeting Nov. 17, there was disagreement among aldermen regarding the proposed figures. Boyce said examination of the much lower rates within the township of Monroe points to less development within city limits.
"We have to address the difference between spending and growth," Boyce said. "There are many ways to skin a cat and I don't think this budget does it."
Stangel said he was happy to see a small increase prevail despite not reaching aldermen's goal of a 0-percent rate change.