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Lakewood finance director explains property-tax breakdown; urges eligible residents to apply for homestead exemption
Summary
Director Mahoney, Director, Finance Department, told the Finance Committee the schools receive about 52.55% of property-tax payments while the city receives about 24.35%, and that the state reimburses local governments for homestead and rollback reductions.
Director Mahoney, Director, Finance Department, told the Lakewood City Council Finance Committee on Oct. 27 that property-tax revenue is a major funding source for the city and that the allocation of those dollars is split among multiple taxing authorities. "The schools receive 52.55% of your property tax payments and the city, 24.35," Mahoney said, presenting a short explainer circulated in advance of the meeting.
Mahoney said the city received just over $27,000,000 in property-tax collections in 2025 and that the state reimburses local governments for three types of…
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