Derby Council Shares Insights on Reducing Mill Levy Amid Rising Property Values

During the recent Derby City Council meeting, significant discussions centered around property tax rates and their implications for residents. Council members highlighted the ongoing efforts to manage the mill levy, which has reached its lowest point in 25 years. This reduction comes despite rising assessed valuations, indicating a careful balancing act by the council to mitigate tax burdens on homeowners.

Councilman Mac Coleman noted that while some residents may see a 0% increase in their property values, others could experience varying changes, with some even facing declines. However, the overall trend in Derby remains positive, as the community continues to thrive, leading to stable or increasing property values for most homeowners.

The current mill levy stands at approximately 44.998, which translates to about 32% of the total property tax bill for residents. The council emphasized that Derby's mill rate is competitive compared to neighboring cities, such as Goddard and Wichita, which have higher rates due to additional fire district taxes. This context is crucial for residents to understand how their tax contributions are allocated, with the city, school district, and county each receiving a portion of the total bill.

Looking ahead, the council is aware of the financial landscape, including potential changes in neighboring cities like Hutchinson, which is considering a mill increase. As Derby continues to navigate its fiscal responsibilities, the council remains committed to transparency and ensuring that tax rates reflect the community's growth and needs.