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July 15, 2013 Lake Geneva School District 2012 Property Tax Payers
Jul 15, 2013
PDF Version: 10930_2013-Jul-15_July 15, 2013 Lake Geneva School District 2012 Property Tax Payers.pdf

Per Resolution 13-05 Town of Lyons is offering property tax relief in the form of interest free loans to qualified indiviiduals.
See Resolution below for details.

Authorizing Loans to Qualifying Individuals subject to 2012 Real Estate Taxes

Relating to the portion of 2012 Real Estate Tax subject to Wisconsin Department of Revenue, herein referred to as WDR, SS Sec. 70.57 adjustment.

WHEREAS, a court case caused a reduction in assessed values after WDR had completed its equalization process, causing a disproportionate increase in the 2012 property tax for certain taxpayers in the Lake Geneva School District and the Town of Lyons.

WHEREAS, in 2013 WDR will apply a SS Sec. 70.57 adjustment to assessments which will relieve a portion of the increase in property tax.

WHEREAS, after public meetings and due consideration, the LYONS TOWN BOARD 
agrees to accommodate the public by offering financial relief to qualifying individuals in the form of interest free loans to pay a portion of the 2nd ½ of real estate tax payments to Walworth County.

WHEREAS, an individual must meet the following criteria to qualify for loan:

1) Individual seeking a loan must own the property, and it must be his/her principal residence.
2) Real Estate taxes on the property must not be delinquent. The 1st ½ of the 2012 tax must have been paid either to Town of Lyons or Walworth County by January 31, 2013.
3) Property must be residential property within the Lake Geneva School District.
4) The amount of loan will not exceed the difference between 2012 Real Estate Tax bill total as printed and mailed to property owners in December 2012 and 2012 tax as estimated with regards to reduced assessments, and calculated by Walworth County for each property per the Real Estate Tax Amounts Report and referred to as the “Mock” 2012 Tax Roll. (Posted on Town of Lyons website)
5) Individuals must apply for the loan to the Town Clerk not later than July 14th 2013.
6) Loan must be repaid by July 31st 2014.
7) Loan proceeds will be paid directly to Walworth County to be applied to 2nd installment of 2012 real estate tax due July 31, 2013.
8) Any loan proceeds not paid in full by July 31st, 2014 will be charged interest at a rate of 5% per month. Any remaining loan or interest balance not paid by October 31st, 2014 will be added to the 2014 Real Estate Tax bill as monies owed the Town of Lyons.

NOW, THEREFORE, BE IT RESOLVED, that the TOWN BOARD does hereby authorize the preparation and filing of loan documents for individuals meeting the qualifications above; and that the TOWN CLERK is hereby authorized to sign all necessary documents on behalf of the TOWN; and that authority is hereby granted to the TOWN CLERK and TOWN TREASURER to disperse said funds from the general checking account in accordance with this resolution.

ADOPTED on this 10TH day of JUNE 2013 at a meeting of the Town of Lyons Board.

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