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'Tax Levy'

Dec 06

Proposed 2023 Budget & Property Tax Levy

Posted to City Spotlight on December 6, 2022 at 11:09 AM by Haley Foster

The proposed 2023 budget and property tax levy will be presented at a public hearing on December 12, 2022. It will begin with a short presentation followed by an opportunity for residents and property owners to comment and ask questions about the 2023 tax levy and budget. The public hearing is part of the regular City Council meeting at 6:30 p.m. in the Mississippi Room at the Monticello Community Center.2023 Tax Levy Graph

The proposed city levy of $12,050,000 represents a 6.1% increase (or $697,000) over the 2022 city levy. The HRA levy for 2023 is proposed at $402,000, or $14,000 (3.6%) more than 2022. The total combined levy amount is $12,452,000 or a 6.1% increase.

The impact of the proposed levy on individual properties was listed in the Truth-in-Taxation (TNT) notices sent by Wright County in November. Your notice shows changes to the levies, your property value, homestead exclusion, and any other changes to the tax base. New for the 2023 taxes payable year, local governments are required to report summary budget information with the TNT notices. Wright County compiled information from the County, City, and School District to include in a one-page insert. There’s a lot of information in a limited space, so property owners are encouraged to reach out to the appropriate jurisdiction with any questions on the summary information. Please note, the 2023 proposed budget information will not be final because we continue to refine it until the final budget is approved on December 12, 2022.

This year residential market values increased by an average of 20% over the prior year. As a result, residential taxpayers should expect to see an increase in their city property taxes that exceeds the percentage increase in the levy. City Council held several budget workshops over the summer of 2022 to discuss the city’s projected costs in light of the current economic environment and weighed budgetary needs with the associated tax burden on property owners in the community.Property Taxes at Work in our Community

What are my Property Taxes used for?

 The property tax levy is used in four ways. About 1/3 of the funds are used to make the City’s debt payments, fund capital projects, and support the Monticello Community Center. The remainder of the levy is put into the General Fund.

The General Fund pays for city services like public safety, including the Fire Department and contract with Wright County Sheriff’s Office; snow and ice removal; and funding city departments like finance, planning and zoning, parks and recreation, and parts of public works. Overall, the tax levy helps us fund larger projects over time as well as complete our day-to-day operations on behalf of the public.

Oct 13

Council Approves Preliminary 2022 City Tax Levy - Sept. 27, 2021

Posted to Monticello City Council Highlights on October 13, 2021 at 6:18 PM by Haley Foster

City Council Approves Preliminary 2022 City Tax Levy

 On Monday, Sept. 27, the Monticello City Council approved a preliminary 2022 city tax levy of $11,353,000. This is a 2.6 percent increase from the city tax levy of $11,063,700 in 2021. While the City Council can control the size of the levy, each property’s valuation contributes to changes on the tax bill.

Finance Director Sarah Rathlisberger noted in the meeting that council can think of the levy like a pizza, “You [council] can decide if we’re ordering it as a medium or a large. The property values tell you how much of the pizza, or what slice you get.”

. The pie chart acts as a visual to show the four key components of the tax shift and levy: residential, industrial, apartments, and the nuclear generating plant.

Unlike many other municipalities, Monticello’s tax base is significantly affected by an electric-generating facility. The pie chart acts as a visual to show the four key components of the tax shift and levy: residential, industrial, apartments, and the nuclear generating plant.

Due to a roughly 7 percent decrease in this property’s taxable value and an average increase of 5.7 percent for residential homes, residential properties can expect to see a city tax percentage increase of greater than the 2.6 percent increase in the tax levy.

Please note, the 2.6 percent increase is for the city’s portion only; the county and school district also levy property taxes on parcels in Monticello. This table shows the city and HRA property tax levy from 2018 to the preliminary levy for 2022 with the tax levy increase in 2022 being less than half of what it was last year.

This table shows the city and HRA property tax levy from 2018 to the preliminary levy for 2022 with the tax levy increase in 2022 being less than half of what it was last year.

Watch a City Meeting

Citizens are welcome to attend City Council, Planning Commission, and Economic Development Authority meetings, but we understand that attending in person is not always an option. As an alternative, we offer the following options to stay engaged with your local government:

  • Meetings are broadcast live on cable channel 12 (FiberNet and TDS subscribers) or channel 180 (Charter subscribers).
  • Meetings are streamed live online. View the live stream on the Monticello Live Stream website.
  • Meeting recordings are available online to watch when it's convenient for you. View the meeting recordings on the Monticello Live Stream website.
  • Meetings are rebroadcast throughout the week on cable channel 12 (FiberNet & TDS subscribers) or channel 180 (Charter subscribers).