STURGIS, S.D. – Sturgis Council members passed first reading of their 2022 budget Monday night.
The new budget is a little over one-million dollars more than 2021 and contains good news for property owners.
Sturgis City Manager Daniel Ainslie says the city will see its Mill Levy drop to its lowest rate in 30 years.
The reduction in property taxes has been funded through a growth in a variety of non-property tax revenue. The major contributors allowing for the reduction include the increased profitability of the liquor store, the annual motorcycle rally, increased revenue from interest payments made to the city on TIF Loans, increased sales tax revenue and an increase in contractor licenses and building permits.
Ainslie also says the city’s general fund remains in a very strong position, with a reserve of 229-percent of its annual operational budget. The fund has been increasing for several years as the City’s growth related income have increased and the General Fund’ expenditures have decreased.
Ainslie says an additional $1.3-million in CARES act funds will help the fund’s reserves.
