The Wall Lake City Council is predicting their overall property tax levy will be decreasing for the seventh consecutive year. According to City Clerk, Chris Rodman, Wall Lake’s total levy for Fiscal Year (FY) 2021 is $9.50 per $1,000 of taxable valuation and will decrease by just under a penny in the coming year. He says this is largely due to rising property values over the last decade.
The city council is still working to finalize the FY22 budget’s figures. Fortunately, revenues have not been impacted substantially by the COVID-19 pandemic so significant budget cuts will not be necessary. However, Rodman notes, they do have a large infrastructure project planned for next summer.
The city is overhauling the existing electrical system in order to nearly triple the capacity of the system to nearly 12,500 volts. When completed, this project will improve efficiency and reliability for customers and save the city up to $40,000 per year. The council approved a $1.5 million line of credit with Westside State Bank in November to finance the project. The council has selected their Feb. 8 meeting for the FY22 maximum property tax levy public hearing. City leaders will then finalize their budget figures and the residents will have another opportunity to voice any concerns at the March 15 meeting.
