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Council approves 2014 budget resolution; city portion of tax rate estimated to fall
Summary
The council approved a resolution appropriating funds for 2014 operations and directing a 2013 tax levy; finance staff said the city’s portion of the tax rate is estimated to decline while county and school rates drive an overall small increase for typical homeowners.
The Superior City Council approved a resolution appropriating funds for 2014 operations and directing a tax levy to be placed on the 2013 tax roll.
Finance Director Vito told the council the figures in the resolution include a typographical error in the printed form and requested a correction before finalization. Vito also provided an estimated tax rate handout and said the figures remain estimates pending receipt of the school tax credit from the state. “This is still estimated at this point because we're waiting for ... the school tax credit,” Vito said at the meeting.
Vito used prior years’ trends to estimate the school tax-credit change and showed an estimated city tax rate falling by about 1.33 percent. She said the overall illustrative effect for a $100,000 home would be about $25 per year under the assumptions used—an increase driven by other jurisdictions such as the county and school district, not the city’s levy.
Councilors asked clarifying questions about the estimate and timing. Vito said the final number depends on the school tax credit the state provides and that the city’s portion was already set and is down from the prior year under current assumptions. There were no changes to the city’s proposed appropriation at the meeting.
A motion to approve the resolution passed on a voice vote.
