The City Council adopted the preliminary 2023 property tax levy and operating budget at their September 20 meeting. The total preliminary 2023 maximum levy increase was set 8.48% over the 2022 rate. In setting the preliminary levy, Council took into consideration the 17.8% increase in market values from 2022 resulting in a decrease in the City's tax rate.
The City Council and staff hosted several budget workshops to discuss the 2023 property tax levy and operating budget. The Council set goals for 2023 that focused on staffing levels and infrastructure maintenance and improvements and planned the tax levy accordingly.
In addition to increases for inflation and fuel costs, the 2023 budget adds the following five positions: Community Service Director, Police Officer, Fire Inspector, Accountant and Public Works Maintenance Worker. The new budget also provides for almost $200,000 in increased street maintenance funding.
The total preliminary 2023 levy increase of 8.48% is comprised of three components:
- City Levy (includes debt) 12.59% increase in levy
- Housing and Redevelopment Authority 100% decrease in levy
- Economic Development Authority No change in rate in levy
Council decided not to levy for the Housing and Redevelopment Authority this year due to the current balance in the account and the recent profits made on the student built program. Council will reevaluate this levy again in 2024.
The Economic Development Authority levy remains unchanged. Funds levied through this tax support the City's redevelopment efforts and the expenses incurred.
If your property had no change in its market value, you will see a decrease in the City's total property taxes. If your property increased in market value, the change in the City's total property taxes will depend on the amount of the increase in value.
The Council and staff will continue to review budgets in detail over the next few months and finalize the budget and capital improvement plan.
The final levy adopted by the City can be lower than the preliminary 8.48%, but not any higher. The final tax levy, budget, fee schedule and capital improvement plan is expected to be voted on Tuesday, December 6.