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Wellman’s Proposed Budget Includes Increase to Debt Service Levy

Posted: Tuesday, February 25th, 2014 at 6:22 am
Author: KCII News - Nathan Swenson

The Wellman City Council will hold their budget hearing at next week’s meeting. Things will remain mostly unchanged from the current fiscal year, except for the increase to the debt service levy. City Administrator Nick Pacha says that rate is currently at $0.79 per $1,000, and will be increased to $2.30 for the coming year.

Pacha explains this will essentially shift the debt the water and sewer funds were paying back to the general tax levy. The increase will bring the $30,000 that will be collected this year, up to $87,000 for Fiscal Year 2015.

The loans that are being paid back were used for infrastructure improvements within the city.