Politics & Government
Tax Rate Tentatively Set
Homeowners will contribute about $38.3 million to the proposed $375 million city budget.
Residents' tax rate will stay the same as it has the last five years even as property values increased for the first time in six.
City leaders unanimously approved setting the tentative mileage rate at 5.155 mills during the City Council meeting Thursday.
This means a property owner with a home valued at $150,000, with a $50,000 homestead exemption, would pay $515.50 in taxes.
Property tax values increased from $7.5 billion to $7.7 billion, the first increase since the economic recession hit.
Homeowners will contribute about $38.3 million to the proposed $375 million city budget.
The first public hearing on the budget is at 6 p.m. Sept. 3 at City Hall. The millage rate and budget gets a final vote Sept. 19.
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