HomeMy WebLinkAboutItem 09 - Tax IncreaseMEMOTO: HONORABLE MAYOR AND MEMBERS OF THE CITY COUNCIL
FROM: BRUNO RUMBELOW, CITY MANAGER
MEETING DATE: SEPTEMBER 18, 2018
SUBJECT: ADOPTION OF TAX INCREASE FOR FISCAL YEAR 2019
RECOMMENDATION: City Council to consider adopting a tax increase (the rate for 2019 remains
the same) raising property taxes by $159,704 (.65%) over the previous
year budget.
FUNDING SOURCE:
BACKGROUND: The Fiscal Year 2019 budget was developed using the same property tax
rate as the previous year. The taxes collected are expected to be higher
as a result of new property added to the tax rolls and increased property
values.
Staff recommends approval.