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Beloit staff outline proposed $117 million 2025 budget, highlight tax rate decline
Summary
City staff presented the proposed 2025 operating and capital budget totaling about $117 million, a roughly $7 million (6%) increase from 2024, with personnel costs making up about 80% of the budget and a reduction in the property tax levy that lowers the local tax rate to roughly $6.50 per $1,000 of assessed value.
City staff presented the proposed 2025 operating, library and capital improvement budget at a public hearing, describing a package of roughly $117 million that would be about $7 million, or 6%, higher than the 2024 budget. Garrett, who addressed council at the start of the hearing, said enterprise fund budgets rise by roughly $384,000 to just under $22 million and the capital improvement program increases by about $9 million (roughly 63%).
Garr…
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