The city’s preliminary budget calls for spending nearly $26.41 million in 2018, a 4.8 percent increase over the current budget, and it includes money to start on three Downtown Revitalization Initiative public works projects.
The tax levy, which provides more than half of all revenues needed to underwrite the spending plan, stays under the state-imposed tax cap, City Manager Matt Horn noted.
For 2018, the levy is about $7.14 million. The city’s cap — a complicated formula based on a number of factors — is $7.47 million for 2018, Horn said.
Additionally, the tax rate remains the same as 2017, at $17.84. The tax bill for a home assessed at $100,000 would be $1,783. Individual tax bills will vary, based on individual assessments.
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