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Council accepts preliminary truth-in-taxation figures, sets benchmark for 2025 rate
Summary
The City Council accepted three preliminary truth-in-taxation inputs — a 99.45% anticipated collection rate, $102,903.71 in debt taxes collected in excess and $67,880.87 in refunds — noting final certified values are pending and staff will return if figures change.
The City Council voted unanimously to accept three preliminary inputs needed to calculate the city’s no-new-revenue (NNR) tax rate for tax year 2025: an anticipated collection rate of 99.45 percent, debt taxes collected in excess of $102,903.71 and total refunds of $67,880.87. The council’s action establishes the benchmark calculations the city will use when certified property values arrive later this month.
Those figures matter because they feed into the NNR tax-rate calculation, a metric the public can use to compare whether changes in property appraisals are driving higher tax bills or whether the tax rate should fall to produce the same revenue on the same properties. “So for the anticipated, tax…
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