CVTC Approves Decrease in 2023-24 Tax Rate

Monday, October 30th, 2023 -- 4:01 PM

Chippewa Valley Technical College approved a decrease in the 2023-2024 tax rate from 71 cents per $1,000 of valuation to 66 cents.

This decrease is attributed to the increase in new construction and property values. Caleb Cornelius, CVTC vice president of administration and chief strategy officer, said new construction in the CVTC district, which includes 11 counties, increased by 2.38 percent; and overall property values increased by nearly 15 percent.

However, the College’s proposed tax levy increased by 6.99 percent from the 2022-2023 levy. Cornelius said increased costs to the College, including debt service costs, are the reason.

The District Board set the levy increase of $1,686,583 at its meeting Wednesday. The approved tax levy for fiscal year 2022-2023 was set at $24,136,245 and will increase to $25,822,828.

With the decreased tax rate, the rate property taxpayers owe per $1,000 in valuation, a person with a $150,000 home will pay $99 in property taxes for the year to support the technical college, down from $106.50. The CVTC board is required to certify its levy by November 1 each year.

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