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Director Landis details assessed valuation and revenue‑neutral process ahead of 2027 budget
Summary
Director Landis presented Ottawa’s 2026 assessed valuation ($163,934,000), explained the revenue neutral rate (42.209) versus the current mill rate (44.136), and described the public‑hearing steps required in the 2027 budget process.
Director Landis told the commission the county’s assessed valuation for the city (used in the 2027 budget process) is $163,934,000 and explained that one mill equaled $163,934 under that valuation. He said the year‑over‑year assessed valuation increased ~4.56% and that new improvements on the tax roll were roughly $2.7 million.
Landis explained the revenue neutral rate (the county’s calculation based on prior‑year taxes and current valuation) is 42.209 mills while the city’s current mill rate is 44.136. He emphasized that adopting the intent to exceed the revenue neutral rate is a notice requirement that triggers additional public hearings and is not itself approval of the budget.
Landis also reviewed existing abatements (TIF/RHID/constitutional abatements totaling roughly $15 million in assessed value) and how outside financial analysis would be used for any tax incentive requests. He said the city will hold the required public hearings in September and encouraged residents to attend the budget hearings to comment.
