To review the Adopted 2019 Budget document, please click here.
2019 Budget Update
October 16, 2018: Budget Presentation
City Manager Mark Freitag presented the proposed 2019 budget to the City Council. During that presentation, the City Council asked questions and asked for follow-up responses related to items in the proposed 2019 budget.
October 24, 2018: Second Budget Study Session
The City Council reconvened on October 24, 2018 to further discuss the proposed 2019 budget. At that time, the City Council were presented with staff's follow-up responses from items discussed at the first meeting or that staff received via email. After all responses were presented, the City Council recommended changes to the proposed 2019 budget via budget amendments.
November 12, 2018: Budget Public Hearing
Finance Director Max Gagin presented the City Council with updates to the proposed 2019 budget. Following the public hearing where individuals had the opportunity to share comments regarding the budget, no changes were made to the budget.
November 26, 2018: Budget Adoption
Finance Director Max Gagin presented the City Council with updates to the proposed 2019 budget. The City Council recommended changes to the proposed 2019 budget based on the City Administration's recommendation. The City Council adopted the 2019 budget - inclusive of all previous changes - by a 6-1 vote.
2019 Budget Information & Budget Steps
Step One: Begin with a Budget
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 $55.4 million that the City of Janesville government and Library has budgeted to pay for year 2019 expenses, $36.6 million will be raised through the property tax levy, $18.7 million will be raised through non-property tax revenues, and the approximate remaining $510,000 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 $4.1 billion. Here is how to calculate the tax rate:
Tax levy (including TIF)/ Assessed value = property tax rate, or
Proposed 2019 property tax rate = $38,795,915 / $4,067,030,710 = 0.0095391.
Tax rates are reported per $1,000 of assessed property value; therefore, the local tax rate is $9.5391.
Step Four: Calculate Your Tax Bill
To calculate the General City portion of your tax bill, a tax rate of $9.5391 means that for every $1,000 of property you own you are taxed $9.5351 for city government services. For example, a Janesville resident who owns an average assessed home of $122,900 will pay $1,172 in 2019 (($122,900/1,000) x $9.5391 = $1,172) 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: Four Different Jurisdictions
Your property tax bill adds together the tax levy of four different taxing jurisdictions. These taxing jurisdictions are the Janesville School District, the City of Janesville (including Hedberg Public Library), Rock County, and Blackhawk Technical College. Instead of requiring that you pay separate bills to each governmental unit, the levies from all four 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.