Sturtevant Passes 2017 Budget, Residents to See 16 Percent Tax Rate Decrease

STURTEVANT -- In late September, the Village of Sturtevant threw a party to celebrate the closing of "Tax Increment District 3" and now in November, village residents will feel its effects in the form of lower taxes.

According to a report published by the Journal Times on Tuesday night, village officials passed a 2017 budget that calls for reducing the tax rate by 16.25 percent. The village will have a $7.47 tax rate per $1,000 of valuation. A resident with a house assessed at $150,000 will see approximately $217 in tax savings when compared with this year's budget.

TID 3 Closed, Tax Savings Promised

According to a report from the Racine County Eye earlier this year, the value of property in TID 3 when it was created was $9 million dollars. The district is closing six years early and has grown by $222 million in property value, making it one of the most successful TID’s in the state of Wisconsin."

When a TID closes, properties within the district go on the village tax rolls, typically resulting tax relief for surrounding residents. TID 3 primarily encompasses the Renaissance Business Park.

More Budget Details

Read more information about the budget passed Tuesday night in the Journal Times here: http://journaltimes.com/news/l...

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