Beloit council adopts 2025 city budget and approves HOME, CDBG consolidated plan and BID operating plan

The Beloit City Council on Nov. 7 approved the city's 2025 operating and capital budgets and several related housing and community development plans and budgets.

Council adopted the 2025 all-funds budget of roughly $117 million and a general fund budget of about $40.3 million; the property tax levy reported a decrease of roughly 2.48% (approximately $490,000), producing a projected local tax rate of $6.586 per $1,000 of assessed value, about $0.00994 less than the prior year. The resolution for the 2025 operating budgets (resolution 2024-135 on the agenda) passed after earlier presentations and a workshop; the council approved the budget by voice vote.

The council also approved the 2025 HOME Investment Partnerships program budget (resolution 2025-125 on the agenda). Staff reported that the HOME allocation and carryover will fund several projects including single-family new construction and acquisition/rehab; the agenda packet lists funds for acquisition/rehab of a city-owned property at 737 Bluff,…