Week of December 1, 2019

By now we all should have received our Truth in Taxation Notice for 2020.  As noted earlier, the city has incurred $400,000 in emergency sewer construction/deconstruction at Birchwood Lane.  That cost exceeds our annual levy of $364,000.  As a result, the city's levy increase for 2020 is 30% higher.  Please remember the city's portion of your overall property tax is 25%....in other words this contributes a 7.5% increase to your overall tax bill.
(Your values may differ somewhat due to the peculiarities of tax rates varying relative to property valuation. Also, keep in mind property values have increased as well.)
The levy increase will need to stay in place for the next four years to recover the expense because this has consumed our entire "rainy day" fund. The good news is you can anticipate your property taxes going down after that.

A happy Thanksgiving to you and your families.