Declining property valuations = higher mill rates in River Falls

In School enrollment dips, could spell trouble later, Phil Pfuehler explains how declining property valuations have caused higher mill rates in River Falls:

High school enrollment went from 987 to 985; Meyer Middle School, from 671 to 653; Westside Elementary, from 414 to 408; Greenwood Elementary, from 365 to 361; and the Renaissance Academy, from 60 to 46.

At Monday night’s regular meeting, the school board set the new tax levy at $16,289,045, or 0.7% increase over last year.

However, because property values in the school district rose 4.5% — higher than the modest 2% estimated this summer — the mill rate will drop 3.6% (instead of a projected 1.5%) from last year. The new mill rate is $8.46 per $1,000 worth of property.

While a declining mill rate is generally good news, the school portion of individual property taxes will vary, depending on how property values stand in the city and surrounding towns.

Smurawa said many Wisconsin school districts have declining property valuations that have caused higher mill rates.