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Board holds public hearing; proposes property tax levy unchanged at 0.5845
Summary
City staff presented the annual property tax levy calculation; the board opened and closed a public hearing and approved first reading of an ordinance setting the 2025 levy to be collected in 2026 at 0.5845 per $100 assessed valuation, unchanged from 2024.
The Board of Aldermen opened and closed a public hearing and approved the first reading of bill 65-74, an ordinance establishing the annual property tax levy for the city. Staff reported the city—s rate remained at 0.5845 per $100 in assessed valuation after Board of Equalization adjustments.
Allison, a finance staff member, explained the levy process: assessed values come from the county, the rate is calculated to maintain revenue neutrality, and the published maximum rate was 0.6145 per $100 but the final calculated levy remained at 0.5845, the same rate as 2024. "The city's 2024 tax rate was 0.5845 per $100 in assessed value... our tax levy came in at 0.5845 per $100 in assessed valuation, remaining the same as it was in 2024," Allison said during the staff report.
With no public comments at the hearing, the board approved the ordinance on first reading by voice vote (6-0). Staff noted the published notification used preliminary pre-Board of Equalization numbers and the final levy was calculated after the BOE values were received.
The ordinance advances to the required subsequent readings and publication steps before the levy is collected in the 2026 budget year.
