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Oshkosh 2025 Budget: Property Tax Increase, DNR Mandates, And Homelessness
Prev NextOshkosh City Council members listen to the 2025 budget presentation on Tuesday, Oct. 29.
OSHKOSH (NBC 26) — The City of Oshkosh is presenting its 2025 proposed budget, asking for a tax levy increase, more public safety spending and funding for two DNR-mandated projects.
As a long-time Oshkosh resident, Joe Gorwitz has seen big changes in his property taxes."I think I was paying, back in 2002 when I moved in, about $3,200 and now it's almost up to $4,800," he says.
This year, his property taxes will likely rise again.
Part of the city's proposed 2025 budget is a 2.83% increase in the property tax levy.
After a property reassessment earlier this year, the percentage of the tax levy coming from residential homes increased, while the percentage of the tax levy coming from commercial buildings decreased.
This shift would lead to an increase in property taxes for the average taxpayer, even without the increase in the tax levy, according to City Manager Mark Rohloff.
This means the burden on homeowners could be more than just a 2.83% increase.
"The council is trying to wrestle with that, how can they minimize that impact because for some people that's going to be a significant part," Rohloff says. "It's only going to be the city part of your tax bill, but it's still significant enough that the council is still wrestling with how they want to do that, and no final decision has been made yet."
The 2025 proposed budget is $233.5 million, an increase of about 33% from 2024, which was finalized at $174.3 million.
"The 2025 budget is going to demonstrate a significant emphasis on public safety, both in police and fire," Rohloff says.
In the proposed budget, the total public safety and EMS portion is $37.7 million, an increase of 5.86% from 2024.
Proposed in the budget is a fourth ambulance for the fire department, a homeless outreach program with the police department, and a $7.7 million OFD training center—though the council has yet to make a final decision on the center.
As part of the homeless outreach program with the Oshkosh Police Department, officers would partner with a social worker to help people experiencing homelessness get to the resources they need.
Rohloff says another large part of the budget is two DNR-mandated projects: the Clearwells Replacement Project and a third-level phosphorus treatment process for the city's sanitary sewer.
Rohloff says he believes the phosphorus treatment is unnecessary.
"We feel we do an adequate job already, however, the DNR wants to see more from cities," he says.
The two DNR projects will take $30 million each to complete, according to Rohloff.
"So it's a pretty significant hit, and eventually that will hit our utility ratepayers, which is why we're so concerned about it," he says.
The City Council will have its last 2025 budget meeting on Nov. 6 before a final vote on Nov. 12.
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Oshkosh is probably best known for OshKosh B'Gosh, a manufacturer of overalls and children's clothing founded in Oshkosh in 1895. Originally a small-town manufacturer of adult work clothing, it became best known for its children's lines. Oshkosh Corporation is also headquartered in Oshkosh. Oshkosh Corporation, formerly Oshkosh Truck, is the leading manufacturer and marketer of specialty vehicles and bodies in four primary business groups: Access Equipment, Defense, Fire & Emergency, and Commercial. The University ofWisconsin-Oshkosh, the third largest university in the state, is located in Oshkosh. Oshkosh is also the home of EAA AirVenture Oshkosh, The World's Greatest Aviation Celebration held by the Experimental Aircraft Association. AirVenture is the world's largest airshow, and during AirVenture, air traffic at Wittman Regional Airport exceeds that of any other airport in the world.
... Read MoreOshkosh (OSK) Receives A Hold From KeyBanc
In a report released today, Steve Barger from KeyBanc maintained a Hold rating on Oshkosh (OSK – Research Report). The company's shares closed yesterday at $106.46.
Barger covers the Industrials sector, focusing on stocks such as Lincoln Electric Holdings, Oshkosh, and Terex. According to TipRanks, Barger has an average return of 11.7% and a 60.30% success rate on recommended stocks.
In addition to KeyBanc, Oshkosh also received a Hold from Morgan Stanley's Angel Castillo in a report issued yesterday. However, on the same day, Robert W. Baird maintained a Buy rating on Oshkosh (NYSE: OSK).
OSK market cap is currently $6.93B and has a P/E ratio of 10.43.
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Oshkosh (OSK) Company Description:
Oshkosh Corp. Engages in the design, manufacture, and market of specialty vehicles and vehicle bodies. It operates through the following segments: Access Equipment; Defense; Fire and Emergency; and Commercial. The Access Equipment segment consists of JerrDan and JLG, which manufactures aerial work platforms; and telehandlers that are used in construction, industrial, institutional, and general maintenance applications to position workers and materials at elevated heights. The Defense segment produces tactical wheeled vehicles; and supply parts and services for the United States military and other militaries around the world. The Fire and Emergency segment sells commercial and custom fire vehicles; simulators and emergency vehicles primarily for fire departments, airports and other governmental units; and broadcast vehicles for broadcasters and television stations. The Commercial segment includes McNeilus, CON-E-CO, London, Iowa Mold Tooling Co., Inc (IMT), and Oshkosh Commercial. The company was founded in 1917 and is headquartered in Oshkosh, WI.
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