It’s budget season and local municipalities are holding budget hearings in the coming weeks. Here are the upcoming meetings as well as brief overview of the proposed property tax rates for each municipality:
Village of Cottage Grove
In the last year, the average home in Cottage Grove has increased in value from $250,000 to $300,000, according to Village Administrator Matt Giese.
With that increase comes a potential increase in the average tax payment for Cottage Grove residents, though the proposed tax rate has dropped in preliminary 2021 budgets.
The Cottage Grove Village Board held a preliminary budget discussion on Monday, Oct. 26, with Giese bringing forth a budget with a proposed tax rate of $6.16 per $1,000 of value. That would come out to $1,848 on a $300,000 home. Last year’s tax rate was $7.04 per $1,000 of value ($1,760 on a $250,000 home).
The total proposed tax levy is $4,417,100, an increase from last year’s total proposed levy of $4,220,470.
A budget hearing will be held Monday, Nov. 16 at 6:30 p.m. On that day, the budget could be formally approved, or final approval of a tax bill could be delayed until Dec. 2. Tax bills are due to be mailed out by Dec. 21.
The full budget can be seen on the village’s website or at the village clerk’s office from 7:30 a.m. to 4:30 p.m.
City of Monona
Monona’s 2021 levy is proposed for a 5.87% increase, up from $3,085,477 to $3,266,468. The city has also seen an increase in value of the average assessed home, though not as large as Cottage Grove.
In 2019, the average assessed home was $340,600. In 2020, it was up to $361,800. City tax charges for 2020 would increase by $104.56 for the average homeowner if the proposed budget passes, with $6.42 in taxes per $1,000 in value, a small decrease from $6.52 per $1,000 in value last year.
The city will hold its 2021 budget hearing before the city council on Monday, Nov. 16 at 7 p.m. in the community room of the Monona Public Library. The city’s full budget summary is available for public inspection at City Hall from 8 a.m. to 5 p.m. Monday through Friday or on the city’s website.
Village of McFarland
The median home value in McFarland at the start of 2019 was $279,050. At the start of 2020, the median home value had risen to $295,100.
The city tax rate is projected at $6.27 per $1,000 of value, a proposed decrease from $6.49 in last year’s budget. The median payment would then be $1,850 on a $295,100 home, up from $1,811 on a $279,050 home under last year’s budget. That’s about a $39 increase in city tax payments.
McFarland’s proposed property tax levy for the general fund in 2021 is $4,319,250, a 13.05% increase from the 2020 budget.
The budget administrative submission says that “the increase is sizeable but planned in association with a reduction in tax levy support within the Capital Projects Fund.”
McFarland’s public hearing and final review of the budget will be Monday, Nov. 23 at 7 p.m. At that time, the McFarland Village Board can adopt the 2021 budget.
Visit the village’s website for a full overview of the budget.
Town of Cottage Grove
The Town of Cottage Grove’s 2021 budget public hearing and special meeting of electors to adopt the 2020 tax levy is Monday, Dec. 7 at 7 p.m.