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Council sets public hearings on FY2019–20 budget and tax rate amid rising property valuations
Summary
Council approved resolutions calling a public hearing on the proposed FY2019–20 budget and two public hearings on the tax rate; staff said the tax rate would remain the same but increased property valuations mean the city would collect more revenue (described in the meeting as "roughly a half $1,000,000").
The Paris City Council adopted resolutions calling for a public hearing on the proposed FY2019–20 budget and two public hearings on the proposed tax rate, scheduling the hearings for early September.
City staff explained that charter and local government code requirements compel the council to hold an official public hearing on the budget and two hearings on the tax rate because the city expects tax collections to increase due to higher property valuations even if the tax rate itself remains unchanged. Jean Anderson, speaking for staff, said the resolution calls for a budget hearing on Sept. 3 and noted the council will publish notice in the newspaper and on the city website.
During discussion the chair characterized the additional revenue from valuation growth as "roughly a half $1,000,000." Council members noted the council could seek to make the budget neutral (reducing planned expenditures) but that doing so would require identifying about a half million dollars in cuts. The council voted to adopt resolutions calling the hearings so the public may review and comment on the proposed budget and tax rate before final action.
The hearings give residents an opportunity to comment; the council may amend the budget or tax decisions after the public hearings, the staff said.
