The Chippewa Valley Technical College District Board approved the 2023-24 budget as proposed during its meeting on Thursday. This approval comes just a day after the state Assembly indefinitely postponed the vote on Assembly Bill 2, which posed a threat to the technical colleges’ ability to levy property taxes for operating and maintenance expenses.
CVTC’s budget calls for total expenditures of $113,626,637, a reduction of 2.59 percent from the 2022-23 budget due mainly to the completion of referendum projects. General fund revenues are projected to be $60,264,644, up 1.24 percent from 2022-23.
An estimated six percent increase in property values will result in a decrease in the tax rate of 0.03 percent from $71.20 per $100,000 of property value to $71.18. The proposed tax levy – the amount collected throughout the CVTC district for support of the College – is $25,576,325, up 5.97 percent from the previous year, and is related to an increase in debt service cost.