On October 19, 2022, the school board set the levy for the 2022-23 fiscal year. The mill rate has decreased from $10.20 per $1,000 of equalized property value in the 2021-22 fiscal year to $9.20 per $1,000 of equalized property value for the 2022-23 fiscal year. This would cause property taxes to decrease if all other factors remain the same. However, there are many variables affecting property taxes including the school district mill rate (determined by St. Croix Central School District), equalized values (determined by the Wisconsin Department of Revenue), and assessed values (determined by local tax assessor). Some taxpayers may see an increase on their 2022 property tax statements while other taxpayers may see their taxes remain stable or decrease.
These fluctuations are due to differences from year-to-year in your property’s equalized value – listed on your property tax statement as fair market value. The State of Wisconsin uses two methods of determining values. The assessed value is an estimate of value within a municipality and can be used to distribute taxes within a municipality. The fair market value or equalized value is used for the school district levy due to the district having multiple municipalities within the district’s boundaries. The levy must then be equalized among all taxpayers of the district to ensure that each taxpayer is paying the correct amount. Due to this equalizing, some taxpayers in the district may see an increase in their school portion of their property tax bill while others may remain the same or see a decrease.