Tax Levy / Budget

2009 Buget in a Nutshell

The mil rate for 2009 is 3.3357. The adopted mil rate for 2008 was 3.9016. Last year the tax levy was $388,542.00 and this year it will be $440,893.00. Assessed values went from $99,587,900 up to $132,173,900.

HISTORICAL LISTING OF VILLAGE MIL RATES: 1997 Through 2009

Year:	1997	1998	1999	2000	2001	2002
Mil Rate:	3.691	3.0171	2.529	2.878	2.905	3.223

Year:	2003	2004	2005	2006	2007	2008	2009
Mil Rate:	3.1366	3.455	3.4611	3.689	3.6909	3.9016	3.3357

PROPERTY REVALUATION PLUS STATE LEVY FREEZE EQUALS REDUCED MIL RATE       

The 2009 tax levy for the Village of Denmark includes levies for the School District, the Technical College, Brown County and the State of Wisconsin. It also includes a levy for Tax Incremental District # 1 in the Village of Denmark. The Village portion of this annual tax levy will be lower in 2009 because the Assessed valuation increased to $132,173,000. At the same time the allowable 2008 payable 2009 levy for the Village of Denmark amounted to $440,893.00

The Village portion of the mil rate is determined by dividing the "allowable levy" by the "assessed valuation".       

 $440,893.00      Amount to be levied (set by State levy freeze)      
 $132,173,900    Assessed valuation  (The estimated equalized rate is at 100.54% according to the Dept of Revenue)

As of October 15th it is estimated the mil rate mil be 3.33570394 for 2009. The D.O.R. releases final rates in early November. Based on this mil rate the rate will be 0.35 per thousand dollars of value. This would translate to a decrease of $35.00 per $100,000 of a home value. However, the TIF levy portion of the combined rate may increase due to increases in value within the TIF district to offset this reduction.    

2009 Budget

This year the Village has needed to deal with the nationwide financial crisis as well as the continuing State's reoccurring deficit.  Each of these situations has impacted us at the local level. The Federal level situation impedes our ability to borrow for things like local road construction project. State shared revenues, which make up a large portion of our local budget, have been frozen by the State along with a companion local tax levy freeze. The results this year will be a decrease in the Village's mil rate but this translates in the need to finance projects through long term financing arrangements and a further reduction in reserves. The Village needs to restore its general fund undesignated fund balance at or above 20% of operating expenditures. It also needs to maintain debt below 50% of its capacity and keep debt payments below 30% of expenditures. These financial objectives have been forefront in this year's budget discussions along with how to continue to provide services to our citizens in the most efficient manner.

The following is a summary of the 2009 Village Operational Budget. Copies of the 2009 Water Utility budget, the 2009 Sewer Utility Budget and the Storm Water Utility Budget are available at the Village Clerk's office at Village Hall.

• Download XLS file of 2009 Village Budget
  (requires Microsoft Excel)