Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Property Tax topic
No spam. Unsubscribe anytime.
Council questions property-tax estimate; staff says figure can be lowered if expenses adjusted
Summary
Accountant said last year's higher property-tax figure reflected an abandoned plan to raise taxes and that a realistic estimate is closer to $44,000; staff said the line could be adjusted to $50,000 but expenses must be redistributed to keep the budget balanced.
Accountant (S2) told the council the property-tax number in the draft budget was carried over from a prior plan to raise taxes that did not occur. "That was the amount we put in last year when we was gonna raise taxes, and we didn't do that. So it's gonna be more around the 44,000," the accountant said.
Committee member (S5) acknowledged the figure could be changed in the draft to $50,000 but warned that reducing the revenue estimate requires spreading expense reductions elsewhere to keep the budget balanced. "So it I can do that, but it may be Hoovis just to adopt it the way it is and then amend it later," S5 said, describing two paths: immediately lower the property-tax projection and rebalance expenses, or adopt the draft budget now and amend it after confirmed receipts and grant awards are known.
