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Cuba City schools explain the mill rate and how rising property values affect taxes
Summary
Superintendent Aaron Olsen and business manager Heather Dresser published a video explaining the mill rate, showing how the district's levy and rising property values produced a roughly $9.70-per-$1,000 local mill rate and what that means for a typical homeowner.
Aaron Olsen, superintendent of the Cuba City School District, and Heather Dresser, the district's business manager, released a short explainer video answering how the mill rate on school property taxes is calculated and what it means for local homeowners.
In the opening, Olsen defined the mill rate as "a way to measure how much tax is charged for every $1,000 of equalized property value" and described the basic calculation: divide the district's total tax levy by the total equalized property value and multiply by 1,000. "The levy tells you how much money the district needs and the mill rate tells you how that needs to get spread across property owners,"…
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