Understanding Your Tax Bill

tax bill

How to read and understand your tax bill in relation to the GBAPS referendum request:

  • The “Net Tax” is calculated by multiplying the Adjusted Mill Rate by $1,000 of assessed value. The Adjusted Mill Rate is the school district mill rate based on the property’s Fair Market Value (FMV) converted to a mill rate based on assessed value. The Adjusted Mill Rate for this property in 2021 was $11.36 per $1,000 assessed value. The Adjusted Mill Rate for 2020 was $11.34 per $1,000 of assessed value.
  • The School District mill rate was $9.79 per $1,000 of Fair Market Value in 2020 and $9.03 per $1,000 of Fair Market Value in 2021, an 8% decrease (not shown on the tax bill).
  •  The Fair Market Value of the property increased by 8.6% from 2020 to 2021. In 2020, the average property value increase was 4.89%. The range was -1.46% to +7.23%. In 2021, the average property value increase was 8.9%. The range was +4.17% to +22.09%.
  • Due to the school district mill rate decreasing by a smaller percentage than the property’s Fair Market Value increased, and because the Adjusted Mill Rate is based on Fair Market Value, the amount of taxes owed to the school district increased even though the school district’s actual mill rate decreased.
  • The amount of taxes owed the school district is reduced by the School Levy Tax Credit, which is set by the State of Wisconsin.
  • Beginning in 2015, legislation required that voter approved tax increases for the purpose of school referenda (whether capital or operational referenda), would be listed on the property tax bill. The voter approved temporary tax increases show how much of the “Net Tax” is due to the approved referenda.
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