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Senior tax credit could cut $139,671 from Raymore revenue; staff warns of debt-service and bond risks
Summary
City staff told the Raymore City Council work session on Oct. 20 that Cass County's updated estimate of the senior property tax credit would reduce Raymore's revenue by $139,670.58, with $94,388 of that affecting the debt service fund.
City staff briefed the council at the Oct. 20 work session on the projected local impact of a proposed senior property tax credit, reporting a $139,670.58 reduction in Raymore's revenue based on updated numbers from the Cass County collector.
Staff said the county's figure breaks down to a projected reduction in the general fund of $43,563, a park fund reduction of $11,718 and a debt service fund reduction of $94,388. "The amount for Raymore is a $139,670.58," the presenter said at 00:28:20.
Officials warned the impact will accelerate over time and that the debt service fund is most…
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