(Beaver Dam) The Beaver Dam Common Council advanced the 2020 proposed budget for publication Monday night with two dissenting votes. The $16.9-million-dollar document, as presented, includes a tax levy of $10.87-million, an increase of $371-thousand dollars, or 3.5-percent, over the current budget.
The mill rate of $9.70 per thousand would be down by 46-cents from last year. Equalized property values are up by 6.5-percent. Interim Finance Director John Somers says that the owner of a $100-thousand dollar home in Beaver Dam should be paying around $17.50 more for the city portion of their tax bill next year.
The council had to trim $270-thousand dollars from the budget to meet state levy limits. Somers says the red ink will be addressed with an accounting maneuver involving short term borrowing.
The budget includes a two-percent increase for city employees. Health insurance costs increased by 7.5-percent.
Budget adoption is slated for Thursday, November 21. The city moved their regular meeting three days later to accommodate for publication of the budget.