For the second consecutive year, the Chippewa Valley Technical College Board of Trustees has approved a tax levy with no increase.
On Thursday, the board set the levy at $35,399,008 for 2012 property taxes due in 2013. A year ago, the board set the same figure for the 2011 levy. The actions reflect a two-year freeze on property tax levies by the state technical college system imposed by state government. The 2011 and 2012 levies are 1.94 percent below the $36.1 million levy for 2010.
Property values throughout the district that includes all or part of 11 counties continue to edge downward. The 2012 equalized values are 1.36 percent below 2011 values. The same tax levy spread over slightly less property value results in a small increase in the tax rate – the amount the taxpayers pay per $1,000 of equalized property value.
The board set the rate at $1.48 for operations and $.29 for debt service, for a total tax rate of $1.77, using rounded figures. It represents an increase of about two cents per $1,000 of property value, or about 1 percent.
The tax rate means that a typical owner of a home valued at $100,000 will pay $177 in property taxes for the technical college. Although it varies by municipality, the CVTC portion typically accounts for about eight percent of a home owner’s property tax bill, with the K-12 school district, county, and city or township levying greater portions.
The tax rate of $1.77 represents an average throughout the CVTC district. Separate tax rates are computed for each municipality within CVTC’s district, using the property values in that municipality.
President Bruce Barker said CVTC continues to hold the line on property taxes, while delivering a quality educational product for the people of the district.
“At Chippewa Valley Technical College we are focused on providing good value for the taxpayers. People see the results of our work in their communities every day in the medical professionals who help care for their families, the people who provide public safety services, the workers who help maintain the systems that heat and provide power to their homes. We train workers for area business and industry that drives our economy. We are thankful for the support of the people of the district and will continue working hard to see that their money is well spent to benefit their communities.”