City Council adopts budget & tax rate

The City Council adopted a $16.599 million budget Monday, one that leans heavily on reserves and on a slightly higher tax rate.

Council members approved the new budget with no discussion.

City Manager Rick Osburn said the new budget – up from $15,684,000 this year – includes a 5 percent increase in garbage rates.

Council members also OK’d an ad valorem tax rate of 72.8 cents per $100 valuation for 2013-2014. That will add two-tenths of a percent to this year’s levy.

The new rate should generate $3,113,880 in revenue in 2013-2014, up from $3,042,900 this year.

Osburn said the new rate is slightly below the effective tax rate, which is the level needed to raise about the same amount of revenue as this year.

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