Committee forwards proposed 2025 property tax rates to full board for hearings
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Summary
Finance staff presented the proposed 2025 property tax rates and the public hearing notice; the Ways and Means Committee voted to forward the proposal to the full board of aldermen for required hearings.
The Ways and Means Committee reviewed the proposed 2025 property tax rates and voted Aug. 7 to forward them to the full board of aldermen so the city can meet statutory hearing and adoption deadlines.
This step matters because state rules require notice and public hearings before final adoption of property tax rates; forwarding to the full board begins that formal process.
City finance staff explained that tax rates must be set by Oct. 1 and that the committee’s packet included the public-hearing notice, assessed values and proposed rates. Staff noted the city is not setting the library’s tax rate and has coordinated with the library on its separate process.
An alderman moved to send the proposed rates to the full board; the motion was seconded and carried by voice vote. The committee’s action sends the notice and proposed rates to the board of aldermen so the public hearings and formal readings can proceed.
Staff said they will remain available to assist the library if needed but that the library is following its own process for setting its rate. No further committee action was taken.