City of Sheboygan Equalized Valuation Estimates Suggest That the Mill Rate Will Fall | 1330 & 101.5 WHBL

Oct 29, 2024

City of Sheboygan taxpayers are likely to pay less per thousand dollar valuation on their property tax bill for the 2025 tax year. Whether or not that means a lower tax bill overall depends upon a few things. First, the proposed budget appropriations need to be approved to establish the total need for revenue; however based upon changes in the equalized valuation reviewed by the Committee of the Whole last week, the proposed mill rate drops to $6.62.26 per thousand dollars of equalized valuation, or a drop of about 20 cents from last year.

The City recorded an increase of over $463 million ($463,101,462) in total valuation compared to the past year, while total budget expenditures are expected to rise by $53 million ($52,999,945), and that will require net property taxes of $29,381,887 to cover the bills.

A home valued at $250,000 would see an assessment for the City’s portion of property taxes of approximately $1,609 ($1,609.25). That compares to $1,648.5 on the current tax bill, a drop of around $40, but your total bill for City purposes will depend on how your property value changed.