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Wellman Debt Service Levy Increasing

Posted: Wednesday, June 11th, 2014 at 6:23 am
Author: KCII News - Nathan Swenson

Wellman residents will see an increase to the debt service levy when the next fiscal year begins July 1st. It’s increasing from $0.79 to $2.30 per $1,000 of assessed valuation. City Administrator Nick Pacha explains this will shift the debt the water fund was paying back to the general tax levy. The increase will bring the $30,000 that’s being 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.