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Budget packet explains mill rate, revenue limits and example tax impact
Summary
The packet presented at the Oct. 21, 2024 Budget Hearing explains Wisconsin revenue limits and definition of mill rate, including an illustrative calculation showing a $175,000 property taxed at a $12.50 mill rate would yield $2,187.50 per year.
The budget packet provides a plain-language explanation of Wisconsin revenue limits, noting the revenue limit uses a three-year average of enrollment changes, the Consumer Price Index and each district’s prior year controlled revenue. The document states that if state aid is reduced, the lost revenue must be made up with the tax levy unless other statutory exceptions apply.
The packet also defines a mill rate and offers an example calculation: with an assessed value of $175,000 and a total mill rate of $12.50, a property owner would pay $2,187.50 per year. The presentation is attributed on the agenda to Amanda Tutor as the 2024–2025 budget presenter; the packet itself provides the explanatory text and illustrative example (no verbatim spoken quote is recorded in this transcript).
