The City of Edgerton, as stewards of taxpayer dollars, must account for every dollar that is collected and spent. To do this, the Administration Department is responsible for the accounting of all City funds, financial planning and budgeting, purchasing, investing, collections and utility billing.
Budget Information
2007 General Fund
Revenues: $1,251,752
Expenditures: $1,089,500
2008 General Fund
Revenues: $1,149,491
Expenditures: $1,149,491
Property Taxes
The City is authorized by state law to levy a tax on the value of property. This tax is called the ad valorem or property tax and is based off of the assessed value of property. Johnson County collects the tax and then redistributes it to the City.
Property taxes are calculated by mills and are assessed by a mill levy. A mill is equal to $1 for every $1,000 of assessed property value. To calculate your estimated property tax bill, you need to know the appraised value of the property. The appraised value is then multiplied by the following schedule depending on the classification of the property:
- 11.5% for residential property
- 25% for commercial property
- 30% agricultural property
For example: a house that appraised for $100,000 would have an assessed value of $11,500. The assessed value is then multiplied by the mill levy. The City of Edgerton’s 2007 mill levy is 46.378, and so the approximate property tax for this home would be $533.35 ($11,500/1000 X 46.378).
Sales Tax
The City levies a sales tax on goods purchased within the City. The sales tax rate for Edgerton is 7.4%