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Staff outlines homeowner cost if Mission raises mill levy by 3.5 mills
Summary
City staff presented a 3.5-mill scenario that would add about $12 per month ($142 annually) to the city portion of property taxes for an average-valued Mission home, generating about $811,000 in gross property tax revenue before reserve and TIF adjustments.
Laura walked the council through the fiscal impact of a 3.5-mill increase using current appraiser data for an average single-family home in Mission. She said the average home value used in the presentation is $351,474 and that a typical homeowner currently pays about $62 per month to the city; under a 3.5-mill increase that would rise to about $74 per month, or approximately $142 per year.
Laura explained how much of that new revenue would be available for operations: "the total increase in property tax, total revenues that that would generate is just about $811,000... Anytime we have an increase in any revenue stream, we have to take 25% off the top of that, because we know that's going to go into reserves... leaving us with net available to the budget of about $524,000." She also reminded the council that some of the additional revenue is reduced by TIF/TIF-related increments.
The presentation framed the mill-levy question in the context of future capital needs such as a police station and city hall, and asked the council to weigh the trade-offs before formal adoption steps in September.
