Unless city leaders have a sudden change of heart, the property tax rate for fiscal year 2020 will take a dip.
City commissioners recently unanimously voted to decrease the rate from $5.74 per $1,000 of assessed, taxable property value to $5.62.
The decrease doesn’t mean tax bills will be lower for residents, though, as most property values have increased.
Will Payne, Office of Performance and Budget manager, told commissioners that the new rate would generate an additional $1.389 million.
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The budget also calls for a 25 percent increase in wastewater fees in fiscal 2020, which begins Oct. 1. The hike would be the first since 2007.
A second and final public hearing for both the property tax rate and budget will be held Sept. 17.