Town’s preliminary 2021 budget calls for reduction in tax rate

Town of Grafton residents can expect to see a 25-cent decrease in their tax rate for next year.

A preliminary $1.8 million budget for 2021 that calls for a $1.48 million tax levy was presented during the Town Board’s annual budget workshop Oct. 14.

The preliminary tax rate for next year is projected at $2.16 per $1,000 of assessed property value, which is a 10.44% decrease from the 2020 budget.

Town Chairman Lester Bartel credited the rate decrease to an 11% increase in property valuation. That reduction would occur despite an increase by approximately $10,000 in the overall tax levy.

Total assessed property valuation in the town is $683.14 million, an increase of about $75.5 million from last year.

Grants and state aid the town expects to receive for 2021 spending are projected to total $189,651.

Documents discussed during the workshop showed similar spending compared to this year’s budget.

The final budget is expected to be approved after the annual budget hearing, which will be held Wednesday, Nov. 11.