Public hearing on tax rate to be held Tuesday
The proposed 2019 property tax rate is slated to be discussed at next week’s City Council meeting, and the public is invited to speak.
At the meeting on Aug. 20, Council will hold a public hearing to discuss Ordinance 19-22, which would set the 2019 tax rate at 61.39 cents on each $100 of taxable value of real property that is not exempt from taxation. Additionally, the ordinance will levy taxes for the use and support of the municipal government and provide a sinking fund for the retirement of the bonded debt of the city. Council will consider approval of the ordinance on the first of two readings, with a second reading scheduled for Sept. 3.
The previously adopted property tax rate was also 61.39 cents on each $100 of taxable value of real property. Though the proposed rate is the same as last year, if adopted, it will raise taxes by 7.97%, or by $45.30 for a $100,000 home, according to the ordinance.
City Council’s regular meeting will be held at 6 p.m. at 630 E. Hopkins.