Item 18: Tax Rate

[COSM_Admin]

Receive a Staff presentation and hold a Public Hearing to receive comments for or against Ordinance 2023-62, setting the tax rate for the 2023 tax year at 60.30 cents on each $100 of taxable value of real property that is not exempt from taxation; levying taxes for the use and support of the municipal government of the city for the fiscal year beginning October 1, 2023, and ending September 30, 2024; providing a sinking fund for the retirement of the bonded debt of the city; including procedural provisions; and providing an effective date; and consider approval of Ordinance 2023-62, on the second of two readings.

 

[JHughson]

It would be helpful to us and the public to include the slide from a previous presentation that shows the dollar impact on homeowners.
And a reminder slide that includes this info that's on page 577.
In 2022, City Council approved a local homestead property tax exemption of $15 thousand and increased the local senior and disabled property tax exemption by $10 thousand to $35 thousand. In fiscal year 2024, these local property exemptions saved taxpayers over $1.1 million by exempting $182 million of property value.

 

[COSM_Admin]

Response provided by Finance Director, Jon Locke:
The attached revised presentations should address what is being requested. Please let me know if further revisions are needed. Thank you!