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<br />PROJECTED TAX RATE – 12.89% INCREASE
<br />
<br />The projected 2025 tax rate is an increase of 12.89% from 2024. The table below projects the
<br />direct city tax impact on commercial/industrial properties as well as residential single homes.
<br />
<br />The impact on a median single-family residential home valued at $377,300 will be an increase of
<br />$123.97 with this levy amount. The impact on a commercial/industrial property valued at
<br />$877,400 (this is the Porterhouse restaurant) will experience an increase of $475.
<br />
<br />Taxable Market Value City Tax Taxable Market Value City Tax
<br />877,400 2,841.98$ 905,828 3,316.75 475$ 16.71%
<br />1,500,000 4,948.51$ 1,548,600 5,771.88 823$ 16.64%
<br />3,000,000 10,023.91$ 3,097,200 11,686.98 1,663$ 16.59%
<br />5,000,000 16,790.93$ 5,162,000 19,573.98 2,783$ 16.57%
<br />15,000,000 50,626.80$ 15,486,000 59,008.12 8,381$ 16.56%
<br />COMMERCIAL/INDUSTRIAL - Market Value Change 3.24%
<br />Tax Year 2024 Tax Year 2025 Increase/Decrease % Chanage
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<br />Taxable Market Value City Tax Taxable Market Value City Tax
<br />250,000 620.74 250,864 703.17 82.43$ 13.28%
<br />376,000 933.59 377,300 1,057.56 123.97$ 13.28%
<br />550,000 1,365.62 551,902 1,546.96 181.34$ 13.28%
<br />650,000 1,613.92 652,247 1,828.23 214.31$ 13.28%
<br />800,000 1,986.36 802,766 2,250.13 263.77$ 13.28%
<br />Increase/Decrease
<br />RESIDENTIAL SINGLE HOME - Market Value Change 0.35%
<br />% ChanageTax Year 2024 Tax Year 2025
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<br />Documents Included with the Packet:
<br />1) Department Summary – Public Works and Parks & Recreation
<br />2) Summary – Water, Sewer and Storm Water
<br />3) Municipal Waste Water Charge
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