Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Property Tax topic
No spam. Unsubscribe anytime.
Commission reviews 2027 property tax levy calculations as mills fall
Summary
Staff presented calculations showing the city's taxable value at $25,403,204, explained TIF deductions and new-growth impacts, and reported a capped levy that translates to about 88.67 mills versus 90.11 mills in 2026.
The commission opened its review of the 2027 budget with a detailed presentation on property tax levy calculations. Rob, a staff member, said the city’s taxable value is $25,403,204 and noted that utility values remain estimates until August. He explained that TIF districts are deducted from taxable value and that retiring TIFs or new growth would change the dollars available for levy.
Rob walked the commission through the 3% property tax cap computation and the resulting figures: a 2026 dollar levy of $2,182,047, about $4,813 in new growth added, and an adjusted, capped levy reported as $2,252,466. “Dividing the capped levy by the taxable value yields 88.67 mills,” he said, later comparing that to the 2026 mill rate of 90.11. He emphasized the mill levy cannot exceed the computed cap. The presentation was informational and no formal levy decisions were made at the meeting.
