Iron County board to vote on budget, tax increase

 

November 4, 2017



HURLEY — The Iron County Board of Supervisors is expected to approve the county’s budget for the 2018 fiscal year Tuesday, which — unless the board changes the figures — will include a millage increase.

The expected rate will be .0056 mill, according to documents given to the board, which translates to $5.63 for every $1,000 of taxable value. That is an 87-cent increase from the previous year’s $4.76 per $1,000 of value.

While the county-wide rate is increasing, the impact on individual properties will depend on what town taxpayers live in and the portion of the county’s taxes the town is responsible for.

The rate is calculated by taking the county’s allowable levy rate of $5,295,151 and dividing it by the county’s equalized value of $940,377,500.

The county’s budget is primarily made of four primary funds — human services, highway, debt services and other county departments.

In the upcoming year, those accounts are expected to have $23,286,817 in expenses and $17,991,666 in revenues.

The expenses are roughly $9 million more than last year because of the loan the county is taking out to pay for the upfront costs of rebuilding Saxon Harbor. The county will be reimbursed by the Federal Emergency Management Agency and state of Wisconsin for their parts of the reconstruction project after work is complete.


The Human Services fund is also higher than last year, as the county is borrowing money to cover the cost of adult and child placements.

The $5,295,151 difference between the expense and revenue amounts determines the county’s levy.

Tuesday’s agenda also includes a possible decision on the final design of Saxon Harbor’s new marina and campground, a key step in keeping the rebuilding process on schedule after the harbor was destroyed during the July 11, 2016, storm. The agenda also includes a resolution regarding youth participation at county board meetings.

 
 

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