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District equalized property values rise $37.99 million, shifting levy shares among municipalities
Summary
Parkview administrators said Oct. 1 equalized values rose $37,994,701 (4.58%); Orfordville and Town of Rock saw >10% increases while Footville and Spring Valley saw declines. Chady noted equalized values determine each municipality's share of the district tax levy.
Administrator Bob Chady summarized the Wisconsin Department of Revenue’s Oct. 1 certification of equalized property values for municipalities within the Parkview School District and said overall equalized values in the district increased by $37,994,701, or 4.58%.
Chady identified municipal variations: the Village of Orfordville and the Town of Rock recorded increases exceeding 10 percent, while the Village of Footville and the Town of Spring Valley experienced reductions in total equalized value. He explained that equalized property values are used to apportion the district’s tax levy among the municipalities that make up the district.
As an example of how levy apportionment works, Chady said the Town of Newark comprises 29.29% of the district’s total equalized property values and therefore bears 29.29% of the district’s tax levy. "Overall, property values within the district increased by $37,994,701, 4.58%." he said.
Committee members received the data for use in budget planning; no levy changes or formal actions were taken at the meeting.
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