Beaver Dam council accepts 2023–24 audits and approves motor-vehicle and first reading of 2025 tax rates

The Beaver Dam Town Council on Monday accepted the town and tourism commission audits for fiscal year 2023–24, approved the state-set motor-vehicle tax rate and completed a first reading of the town’s 2025 property-tax rates. The council voted to accept the audits after a summary from staff showing net position figures and tourism debt. “We had a net position … at June thirtieth 2024, we had an imposition of $11,534,008.79,” the meeting chair said. Council members then moved to accept the 2023–24 audits for both the city and the tourism commission; the motion passed. The motor-vehicle tax rate item — described in the meeting as “the one set by the state” — was approved as presented. Separately, council members completed the first reading of the 2025 tax rates, including the substituting (compensating) rate that the staff said would generate the same revenue as the current year. The substitute general real-estate rate discussed would move from 0.3330 to about 0.3360; the personal property rate discussed was described as changing in a way that preserves overall revenue. The meeting chair noted this was only a first reading and that changes could be made before the second reading. Council members discussed that audit figures reflect assets and liabilities rather than cash balances: “That doesn’t mean there’s $590,000 in cash,” the meeting chair said, referring to the tourism commission’s combined assets and debts. No public comment or legal objections to the figures or rates were recorded during the session. The council’s approvals were procedural: the audits were accepted and the motor-vehicle tax rate adopted; the 2025 property-tax rate advanced as a first reading and will return for a required second reading before final adoption.