Winfield tax levy drops ever so slightly
By TRISHA PHELPS
Mt. Pleasant News
WINFIELD — The Winfield City Council approved the fiscal year 2015 budget following the public hearing on Monday, March 10. The budget includes a slight decrease in the property tax levy rate.
The council approved a property tax levy rate of $10.59572 on regular property. This would mean that a residential property with a taxable valuation of $50,000 would pay $529.79. A residential property in Winfield with a taxable valuation of $100,000 would pay $1,059.57.
Last year’s property tax levy rate was $10.59926.
The city will start off with a beginning fund balance of $1,086,041 and plans to end the year with $999,459, a loss of $86,582.
The total revenue from the last fiscal year was $1,276,804 and this year the city plans to have a total revenue of $1,387,356. The city is planning on the added $110,552 income to come from charges for fees and services as well as in increase in the miscellaneous revenue.
According to city officials, the council believed that the revenues for last year may have been underestimated and that an amendment to the budget will likely be taking place. The miscellaneous revenue increase comes from the city taking over the Veteran’s Building and the increase reflects the revenue the building earns.
While the city budget plans for an increase in revenue, there will also be an increase in spending.
The 2015 budget plans for spending $133,515 on public safety, which is an increase of $23,200. This money is due to the council budgeting for a renovation of the animal kennels behind the city office.
Public works also sees in increase in expenditures, with a budget of $280,100 for fiscal year 2015. This is an increase of $43,300 for last year’s budget and is due to a portion of the street departments’ salaries coming out of this fund.