Staff Outlines Property Tax Levy Cycle; Tentative 3.5'4% Range Recommended for Discussion

City staff presented an overview of the property tax levy process, pension funding pressures and a tentative levy range of about 3.5 to 4 percent at the Government Operations Committee meeting.

The presentation matters because property taxes account for roughly one-quarter of the city's revenues and pension funding increases have been absorbing a larger share of the levy, reducing amounts available for core services, staff said.

"Property taxes are almost 25% of all city revenues and are an important revenue source funding critical services to the community," Staff member Bill Hanna said. He told the committee the city must adopt an official levy estimate in October, approve the official estimate at the Nov. 3 City Council meeting and adopt the tax levy ordinance on Dec. 1; the city must file an official estimate at least 20 days before approving a levy ordinance, staff said.

Hanna reviewed recent levy history and figures:…