Council taps into reserve fund, prevents tax increase - WXOW News 19 La Crosse, WI – News, Weather and Sports |

Council taps into reserve fund, prevents tax increase

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LA CROSSE, Wisconsin (WXOW)—The La Crosse Common Council has amended the city budget and decided to take $90,000 from the $19 million reserve fund to prevent a tax increase.

Last Tuesday, the council decided to take $50,000 from the reserve fund to make sure taxes would be at the same rate in 2013 as they were in 2012.

But, that figure was based on an estimated assessed value.

"The final assessed value came in yesterday (Wednesday). The estimated numbers were higher than the final," Wayne Delagrave, Director of Finance said.  "Thus causing the tax rate to actually go up if we didn't apply some of the reserve fund to the 2013 budget and lower that number of the tax levy to bring the tax rate back in line with 2012s budget."

Delagrave said when you look at the big picture your talking about an assessed value over $3 billion so it's not unusual for estimates to be off a couple million.

           

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