Breaking Down Your 2010 Property Tax Bill

For those of you that haven't gotten around to paying the property tax bill yet – or for those waiting until next year to pay it – here is a breakdown of where your money will be going.

Whitefish Bay property owners will pay an overall tax rate of $22.34 per $1,000 of assessed valuation, a 4.9 percent increase from last year's rate of $21.30. That includes also taxing districts within Whitefish Bay and also factors in the school tax credit.

The owner of a home assessed at $400,000 will pay $8,935 in property taxes, or $415 more than last year, if the home was assessed at the same amount.

Village government taxes make up less than one quarter of the $44.7 million tax levy. The village tax levy totals $10.25 million, a 3.3 percent increase from last year's levy of $9.93 million. The village rate is $5.18 per $1,000 of assessed valuation, a 3 percent increase from last year.

This year's village taxes will make up $2,074 out of the total tax bill for the owner of a $400,000 home - a $60 tax increase from last year.

This year's village budget includes several capital projects, such as repairing or replacing old water mains and storm sewers, as well as street repairs and maintenance.

Funding for Silver Spring Drive business district improvements is provided through a Tax Increment Financing District. This year, the district levy will drop 6.3 percent, from $611,159 to $572,733.

The largest tax increase comes from the Whitefish Bay School District , which increased its levy 6.9 percent - from $20.1 million to $21.5 million. School district taxes will increase $268 this year for the owner of a $400,000 home. That homeowner will pay $4,356 to the school district this year, as opposed to $4,088 in 2009.

The combined levy will be reduced by $3.37 million school property tax credit. The tax credit is a 3.84 percent decrease from last year's credit of $3.5 million.

The Milwaukee County tax levy will increase 3.8 percent this year from $8.4 million to $8.8 million. The Milwaukee Area Technical College tax levy will drop 2.9 percent this year, from $3.9 million to $3.8 million. The Milwaukee Metropolitan Sewerage District levy will increase 5.3 percent from $2.7 million to $2.8 million.

For those residents paying taxes in full, payment must be collected at Village Hall on or before Jan. 31. Taxes can also be paid in installments, with half due by Jan. 31, another 25 percent due by March 30 and the rest due by May 1.

For residents who want to pay by the end of this year to deduct the tax in their federal income taxes, Village Hall will be open all week from 8 a.m. to 4:30 p.m., although on Friday, New Year's Eve, offices only will be open for tax collections.