In a recent government meeting, officials discussed the final ordinance mill rate to be submitted to the county, highlighting significant changes in property tax assessments. The proposed mill rate has increased from an initial estimate of 9.9% to 12.14%, primarily due to a drop in the estimated assessed value of properties.

Originally projected at $2.5 billion, the actual assessed value came in at $2.448 billion, resulting in a $52 million decrease. This adjustment was attributed to inaccuracies in the assessment process, particularly concerning personal property and manufacturing property valuations, which did not rise as anticipated.

For homeowners, this translates to an average tax increase of approximately $194.97 for a $400,000 home, with the city responsible for 25% of the total tax bill, while the school district accounts for 56%. The county's share is currently at 17%, pending final approval of their budget.

Officials noted that despite the increase, the city's mill rate remains lower than those of neighboring jurisdictions, such as Baldwin and New Richmond, which have higher rates per $100,000 of assessed value. The meeting underscored the importance of accurate property assessments and the impact of these changes on local tax bills, as well as the ongoing discussions about budget allocations for public services, including police, fire, and public works.