The city will host its annual budget meeting tomorrow at 5:30 p.m., at , 164 Centennial Ave.
While the budget includes a proposed mill rate includes, for the majority of property owners here actual tax payments would go down because of a revaluation of all properties that was completed last year.
The City Council for the last two months has held a series of meetings to fine-tune the proposal that was put forth by City Manager Lawrence Kendzior. This Kendzior has proposed to raise the current mill rate to 34.56 for the city's outer district and 36.64 for the inner district. Point-wise, it's a substantial jump from the 2011-2012 mill rates of 29.83 for the outer district and 31.65 for the inner district, rates that had increased barely a full point over the last three years.
But because the city's five-year revaluation of properties completed in 2011 put values of many residences at dramatically less than their 2006 worth, 65 percent of homeowners would pay less in the next fiscal year than they did in the current one with Kendzior's plan, according to his calculations. Another 20 percent of residential properties would see a tax increase of a maximum five percent in the proposal.
The council will accept oral and written testimony at tomorrow's hearing.