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2014 Budget Update
The City Council finished their review of the proposed 2014 budget using the study session process. The Council reviewed the budget over the course of four meetings and each one was broadcast live on JATV. The sessions may also be viewed on demand using our Videos Webpage.

By consensus of the City Council, the following changes were made to the City Manager Proposed 2014 Budget:

  • Increase funding for the Janesville Area Convention and Visitors Bureau by $35,893. The revenue sharing of room taxes collected to provide funding to JACVB will increase from 42.5% to 47.5%. This is a reduction of General Fund room tax revenue of $35,893.
  • Reduce auditing and consulting line item in the Economic Development budget by $5,000.
  • Increase in labor and maintenance costs to maintain plantings on a median as a partnership enhancement of $2,500.
  • Reduce chemical weed spraying in the medians by $1,500.
  • Reduce consulting funding from the City Manager’s budget by $1,000.
  • Reduce Fire Department overtime expenses by $7,293.
  • Reduce Police Department overtime expenses by $23,600.

Budget Public Hearings Held on November 11 & 25, 2013
The public hearings for the 2014 budget were held on November 11 and 25 during the City Council meetings (7PM, City Hall Council Chambers, 18 N. Jackson Street). Individuals had the opportunity to share comments with the Council about the budget.

 2014  Budget Information & Budget Steps
Step One: Begin with a Budget
The process is similar to how you must budget your paycheck to pay for rent, food and clothing; you need to know where your money is coming from (revenues) and where it is going (expenditures). First, City of Janesville staff prepare a budget that details how much money (revenue) is needed to cover planned expenditures from the City's General Fund. The City of Janesville General Fund (excluding the library) has budgeted $42.8 million to pay for year 2014 General Fund expenses. The General Fund is the City's primary operating fund. Activities such as police and fire protection, park maintenance, recreation, snow removal, street maintenance, and general administration are supported by the General Fund. The Janesville Hedberg Public Library's 2014 budgeted total expenditures are $4.0 million. Your property taxes and non-property tax revenues are used to cover expenses from these funds.

Property taxes are the City's and Library's largest source of revenue, used to pay for library and city-provided services such as snow removal and police protection. More than half (65 percent) of the costs to administer City government and library services are paid for through your property taxes. The remaining non-property tax revenue comes from financial aid from the State of Wisconsin, user fees, permit fees, non-property taxes, interest, rents or fines.

Some services such as transit receive subsidies from the General Fund that only partially cover the cost of their activities. Thus, funding comes only partially from taxes; the rest comes from user fees. For example, additional revenue to fund the City's transit service comes from bus fares. You pay directly for how much bus service you use. The Water, Wastewater and Stormwater Utilities are funded through utility charges and do not receive any assistance from property taxes - you are charged on your utility bill according to how much service you use.

Step Two: Calculate the "Property Tax Levy"
After determining how much revenue Janesville will receive from the state and other non-property tax sources, we must make up the difference with property taxes. The property tax levy is the total amount of revenue needed from property taxes to cover General Fund and Library expenditures. Of the $46.8 million that the City of Janesville government and Library has budgeted to pay for year 2014 expenses, $30.5 million will be raised through the property tax levy, $15.6 million will be raised through non-property tax revenues, and the remaining $725,000 is covered by applied fund balance.

Step Three: Calculate the Property Tax Rate
To figure out the property tax rate you must know two things: the tax levy (just explained) and the city's total assessed value. Assessed value is the value of all Janesville properties for tax purposes and is determined by the City Assessor. The City's total estimated assessed value of real and personal property is $3.9 billion. Here is how to calculate the tax rate:

Tax levy (including TIF)/ Assessed value = property tax rate, or
2014 property tax rate = $31,396,981 / $3,903,901,980 = 0.00804246

Tax rates are reported per $1,000 of assessed property value; therefore, the local tax rate is $8.04.

Step Four: Calculate Your Tax Bill
To calculate the General City portion of your tax bill, a tax rate of $8.04 means that for every $1,000 of property you own you are taxed $8.04 for city government services. For example, a Janesville resident who owns a home assessed at $100,000 will pay $804 in 2014 (100 x $8.04 = $804) for municipal services such as snow removal and parks. But it will not educate your children or provide judicial services. Those services are paid for from the Janesville School District and Rock County portions of your tax bill.

Your Tax Bill: 5 Different Jurisdictions
Your property tax bill adds together the tax levy of five different taxing jurisdictions. These "taxing jurisdictions" are Janesville School District, City of Janesville (including Hedberg Public Library), Rock County, Blackhawk Technical College, and the State of Wisconsin. Instead of requiring that you pay separate bills to each governmental unit, the levies from all five are combined into one bill for your convenience. After you pay your property tax bill, the money is divided and each taxing jurisdiction receives its share.

                                                       

Based on Assessed Tax Rates

 

For 2013

 

For 2014

Amount
Increase/
(Decrease)

Percentage
Increase/
(Decrease)

 Percentage of Total Property Tax Bill (2014)

 Janesville School District

$996.63

 

$994.44

($2.19)

(0.22%)

 33.07%

 General City

$945.74

 

$965.90

$20.16  

2.13%

 32.12%

 County

$783.28

 

$802.38

$19.10

2.44%

 26.68%

 Blackhawk Tech College

$222.09

 

$224.62

$2.53

1.14%

 7.47%

 State

$20.39

$19.80

($0.59)

(2.89%)

 0.66%

 Gross Taxes Paid

$2,968.13

 

$3,007.14

$39.01

1.31%

 100%

 Less: First Credit

$64.65

 

$64.38

($0.27)

(0.42%)

 

 Less: Lottery Credit

$90.12

$109.64

$19.52

21.66%

 

 Net Taxes Paid

$2,813.36

 

$2,833.12

$19.76

0.71%

 
 Est. Avg. Assessed Home Valuation

 $120,100

 

 $120,100

   

           

 

Last updated: 12/5/2014 1:28:46 PM