Greendale Village Budget Overview

A Patch reader had a really good question about the Village of Greendale budget.

Am I missing something here? Why are taxes going up?

We are saving $185k in benefits, $442k in capital improvements and $20k from the recycling center or $647k total. We are adding (according to the list) $105k. Something doesn't add up.

In fact, in the budget proposal is down 1.01% or $142k from 2012. Why are taxes going up? -- J. B. Schmidt 

The answer is primarily due to the fund balance the village is recommending to maintain for 2013.

The 2013 proposed village budget of $13,938,024 is down one percent from 2012. However, the proposed budget also calls for an increase of 1.2 percent in the tax levy, from $9.1 to $9.2 million.

The increase in the tax levy, the total amount the village anticipates collecting from taxpayers, is primarily due to less budgeted use of fund balance, according to Village Manager Todd Michaels.

The goal for the 2013 Budget is to use the minimum amount of fund balance necessary to maintain the core services residents expect, according to Michaels. The fund balance is made up of funds that carried over from one year to the next. Fund balance serves a number of different purposes: for corporate reserves, for budget stabilization and for future purchases of large pieces of equipment, Michaels explained.

The village could decide to use up its fund balance, however, maintaining a fund balance eases the bumps in the tax levy from one year to the next, Michaels said.

The estimated year-end 2013 fund balance as proposed would be $4.7 million, roughly 34 percent of expenditures. That amount is less than last year’s fund balance, Michaels said.

The 2013 budget was set up to maintain existing services with only a "minimal" tax increase.

The proposed tax levy of $9.2 million, up roughly $109,000, will result an estimated $.06 or .87% increase in the tax rate, from $7.72 to $7.78, per $1,000 of assessed value. As of right now, the tax rate is estimated. Final assessment values for the village are not yet in although the tax rate will be within pennies of what the village is estimating, Michaels said.

Next Tuesday, the Village Board Committee of the Whole will review additional portions of the budget, including police and fire, public works, equipment and recycling funds, in addition to other funds. The entire recommended budget is on the village's website. http://www.greendale.org/.

2013 Budget Impact to Homeowners Comparision

2012 Budget

2013 Budget

$Change

% Change

Average home assessed value

$201,373

$201,373

$0

0

Village tax rate per $1,000

$7.72

$7.78

$0.06

0.87%

Village taxes paid

$1,554.11

$ 1,567.56

$ 13.45

0.87%

Curbside recycling

$31.08

$31.08

$0

0

Stormwater utility fee

$78

$78

$0

0

TOTAL

$1,663.19

$1,676.64

$13.45

0.81%

Ave. monthly cost for village services

$138.60

$139.72

$1.12

0.81%