City Schools land owners get a fraction of a penny tax increase
The new City Schools property tax rate is not quite a zero-percent increase for 2018-19, but it's close.
Business Administrator Scott Rozanski told the board of trustees last night that property owners this year will be asked to pay $21.495880 per $1,000 of assessed value.
That's an increase of .00849 percent over, or not even percent, over the 2017-18 rate.
Last May, voters approved a tax levy of $18,945,404 but the district can't set the tax rate to achieve that levy until properties have their final assessed value for the year.
The rate increase isn't even two-tenths of a cent compared to last year and will amount to a 14-cent increase on homes assessed at $100,000.
For the fifth-straight year, homeowners in the district will be eligible for a STAR rebate.
The tax rate has decreased an average of 3.5 percent over the past two years.
Tax bills will be mailed out to residents by the end of September.