The City of Jefferson has submitted its certified budget to the state for the 2025 fiscal year.

City Administrator Scott Peterson says the overall tax levy for the next fiscal year that starts on July 1st is going to be $14.88 per $1,000 of property valuation. He tells Raccoon Valley Radio that is a $0.37 decrease compared to this fiscal year’s tax levy rate of $15.25. 

“Now having said that, I think most people realize that the assessments on their property had gone up, (and) for the most part taxable values of their property had gone up too. So you may see the property tax levy for the city go down a little bit, the valuation has gone up a little bit. It does still equate to what would be a net income in tax dollars.”  

Peterson points out a new system that all city departments are going through to help future budgets.

“The main things that we’re working on right now is a capital improvements plan to prepare for the upcoming years.You can get a better grasp about what it is that we hope to do in the next upcoming years. I think you will see things become more organized and really have a better handle about what we would anticipate for upcoming years then also.”  

The taxable valuations for debt service going into next fiscal year is $190,021,125, and that is about a $23 million increase compared to the current fiscal year that ends June 30th that had $166,543,146 of taxable value for debt service.