by Marianne Gasaway
Clear Lake continues to be a shining example of taxation done right.
City Administrator Scott Flory presented a preliminary Fiscal Year 2020 budget to the City Council Monday night which keeps the city’s tax rate at a modest $9.70 per $1,000 of taxable valuation. The proposed rate represents the fourth consecutive fiscal year where the city’s share of the tax rate has either declined or remained constant without an increase.
For Fiscal year 2017, the City tax rate decreased from $10.545 to $10.04; for Fiscal Year 2018 the tax rate was decreased from 10.04 to $9.80; and for Fiscal Year 2019 the tax rate was decreased from $9.80 to $9.70.
Flory’s presentation included notice that the taxable valuation for the Fiscal Year 2020 continues the positive trend of growth in the community.
The taxable valuation for 2020 is $653,990,344, which is a $46,641,445 increase (7.7 percent) from the preceding fiscal year.
“This is despite a commercial, industrial and multi-family residential rollback,” Flory added. “The residential rollback for Fiscal Year 2020 is set at 56.92 percent, which is an increase from the Fiscal Year 2019 rate of 55.63 percent.”
The slight change in the residential rollback will result in an increase of approximately $19 forTo read more of this article, please login or sign up for our E-Edition