Laserfiche WebLink
Winter 2023 <br /> <br /> <br /> <br /> <br /> <br /> <br />2024 Preliminary City Property Tax Rate: The tax rate is calculated using the City’s Local Taxable Capacity <br />divided by the total levy. The total levy is made up of the general fund levy and debt levies on its outstanding <br />bonds. The City’s estimated tax rate for 2024 is 24.545% which is a 2% increase over the 2023 tax rate of <br />24.064%. Tax impacts on a home are due to both the change in tax rate and the change in home value. The <br />table below shows the city tax using the estimated 2024 tax rate on various home values in the City. <br /> <br />Public Hearing: A public hearing is scheduled for Tuesday, December 5, 2023 at 7:00 p.m. at City Hall. After the <br />hearing the City Council will consider adoption of the final budget and tax levy for 2024. <br /> <br />Tax Impact Examples: The example City Tax calculations below are based on the city’s median estimated home <br />value increase of 3.9%. Estimated City Tax for each property will be available in the truth -in-taxation notice sent <br />to properties in November. <br /> <br /> <br /> <br /> 2023 2024 <br />Home Value $ 350,000 $ 363,650 (3.9% incr.) <br />Tax Rate City Taxes Due <br />24.064% (2023) $ 828.52 $ 864.14 <br />24.545% (proposed 2024) $ 854.08 $ 881.41 <br /> $ 52.89 increase <br /> <br /> 2023 2024 <br />Home Value $ 500,000 $ 519,500 (3.9% incr.) <br />Tax Rate City Taxes Due <br />24.064% (2023) $ 1,203.20 $ 1,261.86 <br />24.545% (proposed 2024) $ 1,227.25 $ 1,287.08 <br /> $ 83.88 increase <br /> <br /> 2023 2024 <br />Home Value $ 650,000 $ 675,350 (3.9% incr.) <br />Tax Rate City Taxes Due <br />24.064% (2023) $ 1,654.40 $ 1,730.80 <br />24.545% (proposed 2024) $ 1,687.47 $ 1,765.40 <br /> $ 111 increase <br /> <br /> 2023 2024 <br />Home Value $ 900,000 $ 935,100 (3.9% incr.) <br />Tax Rate City Taxes Due <br />24.064% (2023) $ 2,406.40 $ 2,511.98 <br />24.545% (proposed 2024) $ 2,454.50 $ 2,562.19 <br /> $ 156 increase <br /> <br /> <br />