WINSTED, MN – Taxpayers in Winsted won’t see an increase on the city portion of their property taxes next year, due to a flat preliminary levy for 2014.
At Tuesday’s Winsted City Council meeting, a resolution certifying a total preliminary property tax levy of $1,103,432 was adopted, which includes $776,682 for the general levy, and $326,750 for the debt levy.
In the past five years (from 2010 to 2014), Winsted’s overall property tax levy has increased 1 percent.
“That’s pretty amazing,” Council Member Max Fasching said. “We take that seriously – we try to keep our taxes where they’re at.”
Winsted’s total general fund expenditures for 2013 were budgeted at $1,577,604. In 2014, they are proposed to be $1,622,933. Although this is an increase of $45,329, the city expects to have a positive net balance of $28,525, because of an increase in revenue.
Look for the full story in the Monday, Sept. 9 edition of the Herald Journal.