Manitowoc residents can get a preview of the city’s proposed 2026 budget next week.
Mayor Justin Nickels explained that he will present the proposed budget next Tuesday (November 4th) during a special meeting in council chambers at 5:00 p.m., before the finance committee meeting.
The budget is expected to be approved in December, which, according to the mayor, is later than normal.
That’s because of property assessments happening this year.
Nickels explained on WOMT’s Be My Guest program that the official tax rate number will be announced during today’s (October 28th) Board of Review meeting.
Nickels also said that this year, the city saw an average increase in home values of about 25%.
“So if you’re at the 25%, your average,” he explained. “And, assuming all taxing entities kept their levies flat, you wouldn’t see a tax increase even though your house value increases 25%.”
However, if it’s above that, Nickles noted, “Even if every taxing entity kept their levy flat, you’d probably see a slight property tax increase.”
Manitowoc’s mayor also explained that, according to the county’s budget proposal, it looks like Manitowoc’s levy has increased, meaning there could be an increase.
However, the county board of supervisors has not yet approved the 2026 budget.
On the other hand, Manitowoc Public Schools has approved its budget and will not levy the entire amount it can, meaning there could be a decrease in property taxes there.
When asked why there have been property revaluations over the last few years, Nickels says state law requires it every few years.
Also, Manitowoc has been trending outside of where property values should be.
“We’re allowed 90 to 110% meaning if you’re at 90, homes values are lower than what they are currently (for the housing market),” he noted. “And if you’re at 110%, they are higher than what the market is. The reason we’ve had so many (property revaluation) is because homes have been selling. Homes have been selling above asking price, above assessed price, and the market is in flux. And we got underneath that threshold of 90%. And we were required by state law to do it again.”
Nickels reminds residents that it’s important to look at the levy for each taxing entity, because that will determine whether your property taxes are going up.
