Happy holidays! 2008 tax bill to rise nearly 6 percent
The Janesville City Council unanimously adopted the 2008 budget and set the tax rate this morning.
The school district claims the largest piece of the average homeís tax billó$970óan increase of $110 or about 12.8 percent over 2007.
Two major changes drove the school districtís increase: The paying off of the 2006 referendum has begun, and the state did not increase equalization aid this year. The Legislature did, however, take the money that would have gone to school aids and put it into the state school tax credit.
If you want to figure out the taxes youíll be paying in 2008, the net tax rate is $25.46 per $1,000 of assessed valuation. Thatís an increase of nearly $1.33 per $1,000. Those figures donít include the state lottery credit, which decreases the tax bill by $84.26.