Treasurer: Algoma received nearly $1 million in state revenue; mill rate could rise to about $18.05 per $1,000

The treasurer reported to the Algoma City Council that the city received a final state shared revenue payment “just under $1,000,000” and that levies from all taxing jurisdictions have now been received. The treasurer said Algoma's 2024 mill rate was $17.28 per $1,000 and that, if current numbers hold, the 2025 net mill rate would be approximately $18.05 per $1,000.

The change, the treasurer said, is not solely from higher levies countywide but also from Algoma's increased share of the tax base and a rise in the city's debt payments. "Our share of Kewaunee County's levy went up, like, point three percent. Our share of Algoma School District's levy went up over 2%...the city's total change is pretty significant. That is pretty much entirely due to the increase in our debt payments for this year," the treasurer told the council.

Council members asked how that change would affect individual taxpayers. The treasurer used a simple example to show the impact: "If somebody has a $100,000 house ... last year their tax bill would have been $1,720. This year, their tax bill would be $1,805," assuming the mill rate moved from 17.28 to 18.05 and assessments and other inputs remain constant.

The treasurer said the $18.05 figure is an estimate because some state numbers had not yet been finalized; those figures were expected later in the week and the treasurer said she would email council members prior to the public hearing on the budget scheduled for Dec. 1. She also noted the city's total assessed value rose substantially year-over-year, from roughly $330 million to about $375 million, which changed the city's levy share relative to neighboring municipalities.

The council recorded no formal action on the mill-rate estimate at the meeting; the treasurer framed the numbers as preparatory information ahead of the Dec. 1 public hearing on the budget.