Beloit’s proposed 2023 budget is now available for viewing, and residents might like what they see.
Finance Director Eric Miller says the overall budget decreased due to a couple of things, the closing of one of their most successful TID districts and the absence of a waste water treatment project that was on the budget in ’22 that won’t be on the ’23 budget.
Miller says the closing of the TID district may provide tax relief for residents and could lead to a decrease in the property tax rate for citizens of Beloit.
According to the proposed 2023 budget, which is available on the city website, residents could see an average decrease in property tax rates by roughly $4.70.
A public hearing on the proposed budget will be held Monday night at City Hall, then the city council will vote on the budget during the first meeting in November.
