There will be a blitz of budget requests for city officials in the coming days as proposed departmental budgets for fiscal year 2015-16 will be under review.
According to Alderman Everett Brock, who is the chairman of the city’s Finance Committee, he’s going to recommend the city’s property tax rate remain the same when his committee meets to review the budget recommendations and consider donation requests from nonprofits.
“I will recommend we keep the rate the same,” said Brock. “We’ve got plenty of money right now. There’s no need for a property tax increase. I may get outvoted, but I don’t think so. The only thing I am concerned about is people wanting to cut the tax rate. I don’t think we need to raise it, but I don’t think we need to lower it. My recommendation will be to leave it as it is.”
If Brock’s recommendation is accepted by the city, this will be the third year the rate has remained unchanged. Although it is not considered a tax decrease, the city has undergone a property tax reassessment by the state that determined a penny in taxes generates a little more than it used to.
Brock says the city’s rate has been reduced less than a penny – from $2.09 to $2.0804.
“When they do a reappraisal, the state adjusts the tax rate for its revenue neutral,” said Brock. “Ours went down a little less than a penny.”
Budget discussions kick off Tuesday night and will continue on Thursday.