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MSTC Board Certifies Tax Levy
[October 22, 2014]

MSTC Board Certifies Tax Levy


(Targeted News Service Via Acquire Media NewsEdge) WISCONSIN RAPIDS, Wis., Oct. 21 -- Mid-State Technical College issued the following news: The Mid-State Technical College (MSTC) Board of Directors authorized $10,145,831 for the 2014-15 property tax levy in their regularly scheduled meeting held Monday evening, a figure that is half of last year's $20,418,545 levy. This amount is also $51,084 less than what was proposed in the 2014-15 college budget.



MSTC's overall mill rate was also cut in half, falling to $0.83355. The reduction means that the total tax on a $100,000 home will be only $83.34, a savings of nearly $90 from the previous year.

Taxpayers benefitted from the state's investment of $406 million in Wisconsin Technical College System (WTCS) annual property tax relief. Property values also increased for the first time in six years--when property values increase, individual tax rates decline, all other things being equal.


MSTC Board of Directors is required to certify the tax levy for the current fiscal year and notify municipalities by October 31. Property values by county were released in August, though values for school and technical college districts were not certified and released by the Department of Revenue (DOR) until late September.

While Wisconsin technical college operational tax levies are legislatively frozen, technical colleges are permitted to increase their levy based on a percentage increase in new construction; MSTC levied the maximum allowed. MSTC's debt levy rose only 1/2 cent per $1,000 this year.

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