Winona Lake Sees Decrease In 2020 Budget
August 21, 2019 at 1:10 a.m.
By Jackie [email protected]
There are numerous steps that the town has before the budget is approved, including a public hearing on the budget during September’s meeting as required by statute, said Clerk-Treasurer Kent Adams.
Five funds are proposed to decrease next year: the casino/riverboat fund from $68,213 to $65,000, a 4.7% decrease; the local roads and street fund from $109,500 to $80,100, a 26.8% decrease; the motor vehicle highway fund from $790,909 to $766,859, a 3% decrease; the wastewater fund from $1,629,196 to $1,340,496, a 17.7% decrease; and the redevelopment-general fund from $50,000 to $0.
Adams said the town hadn’t used anything from the redevelopment fund in a couple of years, so the town decided to get rid of it.
Three funds will stay the same in 2020 as 2019: $800,000 in the economic development income tax fund; $200,000 in the tax increment replacement fund and $2,500 in the continuing education fund.
The general fund will increase by 1.6% from $1,302,905 to $1,324,367 in 2020. The park fund will increase 14.3% from $153,530 to $175,530; and the cumulative capital development fund will increase 7% from $163,500 to $175,000, according to the proposed budget.
The estimated tax rate will go down.
The net assessed value of property and the tax rate are inversely related, said Brandon Scruggs, of Baker Tilly municipal advisors. Winona Lake’s net assessed value went up to just under $12 million. As the assessed value of property goes up, the tax rate goes down.
“Every year, 25% of the property in the county gets assessed,” Paige Sansone, of Baker Tilly, said. “We’re seeing increases throughout the state because of the improved economy.”
The tax rate will go down from $0.7249 to $0.6992, which is 3.5% decrease, according to the proposed budget.
“I think you all will be very happy with what the comparative budget looks like,” Adams said at the meeting.
In other news:
• The Fraternal Order of Police golf outing at Stonehenge will be at 11:30 a.m. Thursday.
• Canal Days in the Village at Winona will be from 10 a.m. to 6 p.m. Saturday.
• The council approved the rental registration and inspection program.
There are numerous steps that the town has before the budget is approved, including a public hearing on the budget during September’s meeting as required by statute, said Clerk-Treasurer Kent Adams.
Five funds are proposed to decrease next year: the casino/riverboat fund from $68,213 to $65,000, a 4.7% decrease; the local roads and street fund from $109,500 to $80,100, a 26.8% decrease; the motor vehicle highway fund from $790,909 to $766,859, a 3% decrease; the wastewater fund from $1,629,196 to $1,340,496, a 17.7% decrease; and the redevelopment-general fund from $50,000 to $0.
Adams said the town hadn’t used anything from the redevelopment fund in a couple of years, so the town decided to get rid of it.
Three funds will stay the same in 2020 as 2019: $800,000 in the economic development income tax fund; $200,000 in the tax increment replacement fund and $2,500 in the continuing education fund.
The general fund will increase by 1.6% from $1,302,905 to $1,324,367 in 2020. The park fund will increase 14.3% from $153,530 to $175,530; and the cumulative capital development fund will increase 7% from $163,500 to $175,000, according to the proposed budget.
The estimated tax rate will go down.
The net assessed value of property and the tax rate are inversely related, said Brandon Scruggs, of Baker Tilly municipal advisors. Winona Lake’s net assessed value went up to just under $12 million. As the assessed value of property goes up, the tax rate goes down.
“Every year, 25% of the property in the county gets assessed,” Paige Sansone, of Baker Tilly, said. “We’re seeing increases throughout the state because of the improved economy.”
The tax rate will go down from $0.7249 to $0.6992, which is 3.5% decrease, according to the proposed budget.
“I think you all will be very happy with what the comparative budget looks like,” Adams said at the meeting.
In other news:
• The Fraternal Order of Police golf outing at Stonehenge will be at 11:30 a.m. Thursday.
• Canal Days in the Village at Winona will be from 10 a.m. to 6 p.m. Saturday.
• The council approved the rental registration and inspection program.
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