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Posted on: November 19, 2020

Village Board Adopts 2021 Budget

budget chart

On Monday, November 16, the Village Board conducted a public hearing on the 2021 Proposed Budget. Members of the public were in attendance to listen to the presentation from Finance Director Mark Emanuelson and ask questions. After the hearing, the Board voted to adopt the budget as presented. You can view the 2021 budget here.

There are several takeaways from the 2021 budget; however, here are the main aspects community members should note:

  • There will be a 0.98% increase on the Village's portion of the property tax levy.
  • A homeowner with an assessed value of $320,000 will see about a $17 increase in their property taxes for the Village portion.
  • The Village portion is only roughly 26% of your total property tax bill. The other taxing authorities include the school district, Milwaukee County, MMSD, and MATC.
  • Some of the new capital funding includes a new police squad, multiple DPW vehicles and equipment that needs replacing, new street markings for Capitol Drive, continuation of the Alley reconstruction program, scheduled mill and overlay projects, and multiple facility improvements to the public buildings.
  • Parking fees for monthly evening off-street permits are budgeted for a 40% decrease in 2021 based on an anticipated new fee structure reducing permit fees from $50 to $30.
  • No anticipated rate increases for the Water or Sewer Utility.
  • The Village will continue its debt service stabilization efforts by increasing debt service payments through the tax levy by 5% or $91,650 for 2021. The plan is for the Village to continue these efforts through 2027 so that debt service payments meets debt services expenses, which is expected to plateau or peak in 2027. General fund reserves continue to pay the difference between debt service payments and expenses until the Village completes its debt service stabilization efforts by 2027.

We want to take a moment to thank our Finance Director Mark Emanuelson for the time he put into this year's budget process. We also want to thank department heads and staff for putting together thoughtful and proactive solutions so we can continue providing high levels of service for the community. Lastly, thank you to our elected officials for investing countless hours into the budget process. These are not easy decisions, and we commend the Village Board for taking the time to ask questions and learning about certain budgetary implications. If you have any questions related to the budget, please reach out at 414.847.2701 or rewald@villageofshorewood.org.



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