The City of Wadena set a 2022 property tax levy of $1,229,843 following a public hearing Dec. 14. The amount is unchanged from the preliminary levy set in September.
The levy includes $425,000 in general fund dollars; a general obligation equipment cost of $111,774; bonds for the SE sewer project worth $200,014; bonds for the SE storm water project worth $279,778.15; bonds for the SE water project worth $179,677; and library capital improvement bonds worth $33,600 for a total indebtedness of $804,843.69.
The council also adopted their budget for 2022 with expected revenue of $3,733,953 and expenditures $28,156 under budget. This budget is about $140,665 more than the approved budget for 2021. Public safety leads expenses at $1.3 million.
Overall, the city budget is increasing by 3.8%. Thanks to an increase in the taxable market value of Wadena, the budget increase will actually appear as a 2% decrease to the city portion of your property tax. New construction and a higher valuation on property help offset the increase, according to discussion at the Sept. 2021 city council meeting.
All enterprise funds showed a net income loss, but once depreciation is figured in, the city is cash-flow positive, according to Interim City Administrator David Evans.
One of the largest budget increases, about $60,000 for 2022 was under the parks budget. The Parks budget included $150,000 towards a new Leaf River bridge as the old one is in need of replacement.
No one was present for the public hearing concerning the Truth in Taxation hearing.
The council next meets for a special meeting at 6 p.m., Tuesday, Dec. 21.