Town of Cedarburg to reimburse Ataco Steel for overpaid taxes – for now
Payment will be recoup money next year

News Graphic Staff

Oct. 8, 2019

TOWN OF CEDARBURG — The town of Cedarburg will refund ATACO Steel Products Corporation $13,324.03 due to overpaid property taxes in 2017 and 2018.

ATACO Steel is a privately owned metal components manufacturer with headquarters located in the town of Cedarburg, at 6809 Highway 60.

ATACO submitted a claim for recovery of taxes for 2017 and 2018 to the state of Wisconsin, according to a memo to the Cedarburg Town Board by Eric Ryer, assistant town administrator and clerk. Town Administrator Tim Rhode said the state assesses all manufacturing property and the local assessor does the residential and commercial properties.

“We will refund them for the two years for the difference that the state overtaxed them,” he said. “And we will put that on this year’s tax roll. That will be absorbed by the other properties in the town.”

In 2017, ATACO paid $38,918.40 in property taxes but as the result of the settlement, it was determined that the correct property tax is $32,232.09, resulting in an overpayment of $6,686.31. This is based on the 2017 effective tax rate of 1.337047 percent and after the $61.87 first dollar credit, according to the memo.

In 2018, the corporation paid $38,638.32 but it was settled that the correct property tax is $32,000.60, which means ATACO overpaid in the amount of $6,637.72. This is based on the 2018 effective rate of 1.379631 percent and after the $63.08 first dollar credit, according to the memo.

“The stipulated full value assessment for both years as reached in the settlement with the Wisconsin Department of Revenue is $2,500,000,” Ryer said in the memo.

Rhode said this is not a major thing for the town, adding this can happen every couple of years to a property.

“We will recoup all of our money next year when the tax bills come out,” he said.

Rhode said that the reason the town is refunding the money is because they are the ones that collect the taxes.