Tonight the Decatur City Commission has a pretty full agenda.
One important item to note is that they will be voting on a tentative six-tenths millage increase that equates to a bit more than $1 million in tax revenue, according to Asst. City Manager Andrea Arnold. The city is assuming a 5% increase in the value of its tax digest.
Here’s her summary/breakdown from a memorandum from tonight’s meeting…
The proposed increase in the general fund operating millage is two-tenths of a mill which equates to about $350,000 of tax revenue. The additional revenue is needed to support basic maintenance and operations needs for the 77-acre property on South Columbia Drive soon to be acquired by the City. The proposed increase in the debt service fund millage is four-tenths of a mill which equates to close to $700,000. This increase is needed in order to make the first principal debt service payment due on August 1, 2018 for the City Schools of Decatur general obligation bonds that were approved by the voters in November 2015 for capital construction. The proposed six-tenths mill in the tax rate results in an increase of $145 for an owner of a property with a fair market value of $500,000.
Important context – In 2016, the city millage rate was decreased from 13.57 mills to 13.17 mills.