Mayor Graham Richard today announced the proposed 2007 civil city budget.
The City administration has proposed a balanced budget that features the lowest city property tax rate since 1964. The city tax rate is estimated to drop 21% from 2006. The owner of a $100,000 home would see an estimated 34% net reduction in city property taxes. The estimated city property taxes on a $100,000 home are expected to drop from $377 to $249, resulting in $128 savings for the taxpayer.
“We are working to reduce the tax burden on taxpayers while providing excellent services to residents,” said Mayor Richard. “We appreciate the bipartisanship approach with City Council to be fiscally responsible and maintain a disciplined budget that meets the needs of our growing community.”
The total 2007 proposed property tax supported budget is $143.1 million, an increase of 8.2% from the approved 2006 budget. The increase in the budget is largely due to additional public safety personnel, group insurance increases, federal grant reductions, and increased energy costs. The total budget is $172.7 million.
“At a time when we face unfunded liabilities, increased service areas and rising energy costs, we are still maintaining record levels of service,” said Mayor Richard. “The City of
Additional budget highlights:
- No increases in non-public safety personnel
- Twenty new police officers will be requested
- Fuel and natural gas prices projected to increase by 45%
- The City's contribution to group health insurance projected to increase by 10%