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Mexico council holds public hearing, keeps 2025 property tax rate unchanged
Summary
City council held a required public hearing Aug. 25 and voted to adopt the proposed 2025 property tax levy without changing the rate; staff said allowable rates were calculated by the state and the change in revenue from reassessment is modest.
The Mexico City Council on Aug. 25 held a required public hearing and voted to adopt the 2025 property tax levy without changing the current rate, city finance staff said.
City finance representative Vicki Dinky told the council the city’s total assessed valuation for 2025 is $187,031,295 and that, based on the state’s calculations, “there will be no change in the proposed tax rate,” leaving the total levy at 75.91 cents per $100 of assessed valuation.
The unchanged rate is composed of 45.91 cents for the general fund, 10 cents for parks and recreation and 20 cents for public health, Dinky said. The state auditor’s calculations and the revenue-neutral formula that excludes new construction determine the allowable rate, she said. The city’s packet showed new-construction revenue equaled about 2.5326% of the reassessment-related increase.
City staff presented projected tax revenue tied to those rates: $858,661 for the general fund, $187,031 for parks and recreation and $374,063 for public health, for a combined projection of $1,419,755. Dinky cautioned that county-level actions by the Board of Equalization could reduce assessed values and thus the amount of revenue the city ultimately collects, but she said the rate itself could not be raised at this point.
After the public hearing was opened and no public comments were offered, the council proceeded with two readings and passage of Bill No. 2025-553, the ordinance levying taxes for the fiscal year Oct. 1, 2025, through Sept. 30, 2026, adopting the existing rates.
The ordinance and the hearing were posted as required; staff noted that final revenue totals will depend on any subsequent changes from the county assessment process.
