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Wyoming council adopts preliminary 2025 tax levy, sets truth-in-taxation hearing
Summary
The Wyoming City Council approved a preliminary tax levy for 2025 that increases levy dollars by $469,164 (about 8.6%) and set a Truth-in-Taxation hearing for Dec. 3, 2024. Staff detailed fund-specific increases and the projected homeowner impacts during the meeting.
The Wyoming City Council on Sept. 3 approved a preliminary tax levy for 2025 and scheduled a Truth-in-Taxation public hearing for Dec. 3, 2024.
City finance staffer Ms. Sturtz told the council the overall levy would rise by $469,164, an 8.6% increase, driven by increases to the general fund and capital levies and a modest change in debt service. "The overall levy is going up $469,164 or 8.6%," Ms. Sturtz said during the presentation.
Sturtz walked the council through fund-level changes: a roughly $100,000 increase to the street improvement fund, a $60,000 increase to the capital equipment fund, and a $5,000 rise in EDA funding (50% in percentage terms but only $5,000 in dollars). She also said the city is phasing in a new bond and the 2009 bond is falling off, which reduced debt service by about $21,376 (−2.7%).
Using illustrative examples, Sturtz showed homeowner impacts assuming no change in market value: a $200,000 house could see an increase of about $24, while a $300,000 house could rise by about $61. She noted county valuation adjustments may reduce those figures.
Council members questioned budgeting practices, inflationary pressures, and long-range planning. Member Lugar asked how the street funding increases were calculated; staff said the increases align with the city’s long-term capital plan and a strategy to mix bonding with pay-as-you-go funding to avoid sharp levy swings. Council also heard that Moody’s upgraded the city’s bond rating from A3 to A2 during recent analysis for an upcoming bond sale, a change staff said should reduce borrowing costs.
On the motion to adopt the preliminary levy, Member Anstead moved and Member Schilling seconded. The voice vote recorded multiple 'Aye' responses and a single 'Nay' was heard; the mayor declared the resolution approved and the property-tax hearing set for Dec. 3.
Next steps: the levy as adopted tonight is a preliminary certification; the council will continue to refine the budget and finalize the levy in December after the public hearing and any additional line‑item review.
