City expects continuing growth
By Robert Cloud
Due to recent and anticipated economic development, New London is growing its tax base,
In his 2024 budget message, City Administrator Chad Hoerth noted the recently formed Tax Incremental Financing Districts (TID) “that the city created are seeing successes.”
Hoerth said the Celestial Hills apartments in TID 4 are expected to be completed in early 2024.
“The developer at that point will be changing focus to the single-family housing developments adjacent to the new apartments,” Hoerth said.
Other projects include the headquarters for First State Bank and the development agreement with SC Swiderski for a $17.2 million downtown apartment complex along the Wolf River.
“Many different options and plans were developed over the past 15 years during the time the city owned this property and it’s great to see a plan come to fruition for this parcel,” Hoerth said regarding Swiderski’s apartment project.
The city also began its revitalization of downtown New London.
Work began in 2023 on replacing the water and sewer lines on North Water Street and creating an additional 78 off-street parking spaces in downtown.
In 2024, the city will continue work on North Water Street by improving sidewalk, curb and gutter, street surface, storm sewer utilities and street lighting.
“The sidewalks in this area will be widened slightly to promote additional pedestrian accommodations like planters and sidewalk dining,” Hoerth said. “Downtown New London will most certainly have a transformed look by the end of 2024.”
Increased state aid, inflation
After nearly two decades of declining funds, New London elected officials and city staff worked with the League of Wisconsin Municipalities in lobbying for increased state shared revenues.
“Those declines along with some of the strictest levy limits in the country have forced the city to make cuts which provided challenges to maintain services,” Hoerth said. “Luckily, those efforts came to fruition as increases were made to the program.”
However, “high inflation costs are eating up the majority of that additional shared revenue keeping the operating budget tight,” he said.
New London will see its State Shared Revenue increase by $446,008 in 2024, totaling $2.6 million.
“However, a loss of $118,621 in revenue is anticipated from a $87,960 decrease in utility payments in lieu of taxes and a $30,661 decrease in state highway aids,” Hoerth noted in his budget message.
In 2023, New London’s general operating levy was $2.98 million. The proposed operating levy for 2024 is $3 million.
Total General Fund operational expenses for the year 2024 are budgeted to increase by 4.55% or $384,138 out of a total budget of $8.8 million.
Debt service
The city will have a debt service levy of just under $1.05 million in 2024.
Debt service payments for 2024 include among multiple projects general obligation debt on the city garage and riverwall in 2016, pool upgrades at the New London Aquatic & Fitness Center in 2017, the Division Street project in 2018, work on Werner-Allen Boulevard and a new roof on city hall in 2021, downtown reconstruction and a fire truck in 2022.
Mill rates
Under the proposed budget, New London homeowners in Waupaca County could see their city property tax rate rise from $1.91 to $10.25 per $1,000 of value.
This will result in a $68.29 tax increase on a $200,000 home.
Outagamie County taxpayers could see their tax rate increase from $9.87 to $10.20 per $1,000, resulting in an increase of $67.16 for a $200,000 home.
New London Common Council approved the 2024 city budget at its Nov. 28 meeting.