Revenue Hearing – November 4, 2015 - See Agenda on Calendar for more information also
Property Tax: The 1% property tax increase is the legal limit the City can levy each year and equals a $4051.72 from the total in 2015. The City’s property tax rate is $1.97 per $1000 of assessed valuation. The City will also receive additional property tax revenues on new construction and annexed property.
Utility Rate Increase: The City will be adopting a schedule of rate increases for the next 5 years. For 2016 this is will be a 4% increase to water and a 9.5% to sewer. Shown here is an estimated bill for different levels of usage representing different household sizes as an example of the affect the increase will have.
As noted in the hearing held on the Water/Sewer Rate Study on October 21st, the City is having to increase rates in order to meet the revenue needs to cover the costs of operating the systems and making the necessary improvements to maintain the systems in good working order and avoid any system failures.
BUDGET/CAPITAL FACILITIES PLAN HEARINGS – NOVEMBER 18 & DECEMBER 2, 2015