Understanding the Tax Levy Impact
Understanding the Tax Levy Impact
After years of significant reductions, from $10.10 to $1.92 per $1,000, this referendum aims to stabilize the mill rate at approximately $7.53 or lower per $1,000 of property value, lower than five years ago. This will ensure essential funding for district operations while keeping tax rates significantly lower than five years ago.
The mill rate represents the district-wide tax rate per $1,000 of Equalized Property Value. It reflects the overall district tax rate rather than the specific rate applied to individual property tax bills. The chart below compares the School District of Beloit’s tax levy rate (blue line) with the statewide average for all Wisconsin school districts (red line).
Estimate Your Potential Tax Impact
To estimate your potential property tax impact if the referendum passes, input your data into the Property Tax Impact Estimator. Rock County’s Tax Database search is here.