Herald Journal

Serving the communities of Howard Lake, Lester Prairie, Winsted, Watertown, Mayer, New Germany, Waverly, MN and the surrounding area

Winsted’s tax rate is up 3 percent


WINSTED, MN – Winsted’s tax rate for 2015 is about 88.7 percent, which is up from last year’s rate of 85.5 percent.

For a house worth $150,000, this means a tax increase of about $39 for 2015. A commercial property valued at $1 million can expect an increase of $600.

The levy approved at the Dec. 16 council meeting totaled $1,122,654, which is 1.7 percent higher than last year’s levy of $1,103,432.

In addition to the general budget increase, Winsted is also raising prices for sewer and water use. Water will go up 2 percent (from $3.18 per 1,000 gallons to $3.24), and sewer will go up 8 percent (from $8.43 per 1,000 gallons to $9.10).

Typically the sewer rate increases 5 percent each year, but city staff recommended a higher increase in order to build reserves for future wastewater plant improvements.

What does ‘tax rate’ mean?
A city’s tax rate is calculated each year, based on the tax levy and the tax capacity.

In Winsted, the 2015 tax capacity (taxable market value multiplied by the state-mandated classification rate) is $1,264,532.

To get the tax rate, the 2015 tax levy ($1,122,654) is divided by the tax capacity ($1,264,532).

As a result, Winsted’s 2015 tax rate is about 88.7 percent.

Look for more coverage of the Dec. 16 meeting in the Monday, Dec. 22 edition of the Herald Journal.

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