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Proposed village budget has levy hike, tax rate cut PDF Print E-mail
Community
Written by Steve Ostermann   
Wednesday, 02 November 2016 19:14

2017 municipal plan that calls for $28.2 million in spending to be presented at public hearing Nov. 7

Village of Grafton property owners would face a slight increase in the overall levy to support spending in a proposed 2017 municipal budget.

The budget plan, which calls for total spending of $28.2 million, will be presented at a 6 p.m. public hearing Monday, Nov. 7, at Village Hall, 860 Badger Cir.

The proposed levy of $7.7 million is an increase of $67,927, or 0.89%, from the 2016 budget.

A slight decrease is anticipated in the supporting tax rate, which at $7.21 per $1,000 of assessed valuation would be nine cents (1.2%) less than the previous rate.

For a property valued at $250,000, the tax bill to support village spending would decrease $23 to $1,802. The proposed budget — prepared by Village Administrator Jess Thyes and his staff — includes $9.4 million in general fund expenses, $7.6 million for capital improvements and $4.1 million for debtservice.

In a report on the spending plan, Thyes said the village had a 2.1% increase in its assessed property tax base, which grew $22 million to $1.07 billion. The totals do not include property in tax incremental financing districts.

“After several years of declining property tax valuation, the village began to experience in 2013 improved market demand and a trend in increasing valuation on existing properties. During this past year, this trend continued,” Thyes said.

Among major development projects in the village, work was substantially completed on the first phase of Lumberyard 1505, a major mixed-use development with an estimated value of $19 million. Occupancy is expected by June 2017.

Also substantially completed this year was the Village Pointe Commons, a $23 million senior housing campus. A number of street upgrades are included in 2017 capital improvement projects, among them:

• $242,303 to reconstruct Sixth Avenue from Spring to Elm streets.

$162,690 to reconstruct Seventh Avenue from Elm to North streets.

• $158,950 to reconstruct Tenth Avenue from Hickory to Power streets.

Each project includes repairing storm sewers, curbs and gutters. The Village Board held its annual budget workshop Oct. 26, receiving input from Thyes and department heads.

The board is expected to adopt the 2017 budget and approve the supporting tax levy at its regular 6 p.m. meeting Monday, Nov. 21.

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