Time To Comment On 2010 Tax Rate, Budget
Residents are invited to attend public hearings on Oct. 12 to give feedback about the 2010 tax rate and city budget. The hearings occur during Monday’s city council meeting, which begins at 6:30 p.m. at Town Hall.
The city expects to bring in more tax revenue in 2010 even though the city council voted Sept. 24 to actually lower the tax rate — last year it was 35.9 cents per $100 valuation, and this year it will be 35.8 cents.
The reason the city still expects an increase is because property values in West University Place increased by 7.6 percent. The city will have total taxable values of $4.2 billion, compared to $3.9 billion last year.
During Monday’s public hearing, officials will do a presentation to explain the numbers and then open the floor to public comment. Here is the tax rate presentation, available from www.westu.org.
Another presentation will explain the city’s 2010 budget. Total revenues are estimated at $27.5 million: 55 percent of that comes from property taxes, 31 percent comes from fees for services, and the rest comes from various fees or fines.
Planned expenditures total $28.7 million. Personnel expenses are the largest category, requiring 39 percent of total expenditures. Other large ticket items include the city’s operating expenses and debt service. After officials explain these numbers, residents will get the chance to ask questions or make comments.
Here is the budget presentation, available from www.westu.org.