Tuesday, November 18, 2008
In a unanimous decision, the Bingen City Council has voted to increase the local property tax rate by one percent.
State law limits cities to a one percent property tax increase per year.
The increase will take effect as of Jan. 1, 2009.
City Administrator Jan Brending said the boost in the tax rate will raise $1,756.25 in additional revenue for the city of Bingen. That money will be split between the city's general fund -- 69 percent -- and the street fund -- 31 percent.
The text of the resolution, approved 4-0, reads as follows:
"Be it resolved by the city of Bingen that an increase in the regular property tax levy, in addition to any amount resulting from the addition of new construction and improvements to property and any increase in the value of state-assessed property, is hereby authorized for the 2009 levy in the amount of $1,756.25, which is a percentage increase of one percent from the previous year," read an excerpt. "This increase is exclusive of additional revenue resulting from the addition of new construction and improvements to property and any increase in the value of state assessed property, and any additional amounts resulting from any annexations that have occurred and refunds made."