Residents won't see an increase in property taxes this fiscal year after city council approved an tax levy ordinance Monday night.
"If you're reality and home value didn't change, then you will be paying the same amount of taxes as last year," says city administrator Bryon Vana.
The ordinance requests a general corporate purpose (general fund) and special corporate levy (police pension fund) of $1,617,850, which represents a 0% increase over this year’s non-bond extension of $1,617,850, according to a staff report released by the city.
"Since we anticipate a decrease in the assessed valuation city wide the tax rate may increase slightly, however property owners will pay the same total amount they paid last year," the city wrote in a staff report. "I determined the levy for the police pension fund based on the actuary report conducted on the Police Pension Fund."
Council can approve additional abatements up to the end of March, according to the report. This gives the Council the ability to request a “ceiling” amount, while allowing staff to review the budget early next year and consider abatements to the original request.
Patch Asks: What do you pay in property taxes? Are you happy with the council's decision?