This is is the fifth straight year the millage rate has dropped, meaning lower tax bills for residents. The rate of 4.58 mills, is down from 4.62 last year. In 2010, the millage rate was 5.9 mills.
“This low tax rate provides real value to our residents in the city given the high level of city services they receive,” said City Manager Butch Sanders.
Even with the reduced millage rate, city officials expect to meet budget projections from property tax collections in three areas: real and personal taxes; automobile ad valorem taxes; and title taxes.
Under the approved millage rate a house with an assessed value of $100,000 can expect to pay $458.80 in city taxes.
Last month, the mayor and council approved the city’s budget of $10.325 million, a decrease from last year which Sanders said is unique in local government.
