2025 Budget
The Village of Marathon City has created a 2025 Budget Overview Document intended to provide citizens background on the 2025 General Fund Budget and key considerations used to assemble the budget.
The Village decreased the General Tax Levy for the Village by 0.07% ($673.48). The overall assessment value decreased 2.89%, but the Equalized Value increased 7.79 % and taxes are based on equalized values. The Village share of TID Levy is calculated based off the General Tax Levy and Equalized Values. The Village share of TID Levy for tax year 2024 is $266,845 a increase of $18,530 over 2023 tax year. With the decreased of 2024 tax year assessment value on the Village and the overall General and Village TID Levy amount set, the mill rate for Marathon City will increased from $7.411 per thousand of assessed value in tax year 2023 to $7.747 per thousand of assessed value in tax year 2024. The 2024 Tax year is billed in December 2024 and due in 2025.
As an example, a home with an assessed value of $100,000 will pay $774.70 dollars in Village Taxes for tax year 2024 due in 2025 (100,000/1000 = 100, 100*7.747 = $774.70). This is $33.60 More than the 2023 tax bill for the same $100,000 value home.