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Council adopts formal City Taxation Policy to guide future tax decisions
Summary
Council unanimously adopted Resolution 25-65, a written taxation policy intended to document principles for sustainability, affordability, economic development and management of surpluses; city financial advisor David Connolly reviewed objectives, benchmarks and triggers.
David Connolly of Rock Mill Financial presented the proposed City of Delaware taxation policy, describing it as a written statement of the council’s principles to guide tax and revenue decisions over time. Connolly said the policy sets objectives including long-term sustainability of operations, value for residents, affordability, and clear triggers for when tax increases or other actions may be necessary.
Connolly said the policy documents the city’s approach to leveraging economic development and tax incentives to support infrastructure needs and reduce the need for future tax increases. “This is really focused on the idea of how you go about collecting taxes, and fees from individuals and businesses within your jurisdiction,” he said. Finance committee members and councilors commended the process and noted the document will be updated periodically; council voted to adopt Resolution 25‑65.
