The City has set March 12 as the public hearing date for its proposed fiscal year 2013 budget.
The City Council plans to keep the rate the same ($10.54 per $1,000 of assessed property valuation). By holding the rate steady, extra revenues will be collected and banked to fund a major renovation of City Hall in the future.
City Administrator Scott Flory explained that by keeping the tax rate the same, about $350,000 could be put aside in the next budget year for the work. In addition, $300,000 has been budgeted for improvements to City Hall in the fiscal year 2013.
No formal renovation plan has yet been developed, but the work will include the expansion of the police department into areas used by the fire department before its move to a new station. The replacement of windows and aged mechanical systems will also be a part of the work. Early estimates put the cost at $1.4 million.
Property values in Clear Lake rose from $447 million last year to $465 million for fiscal 2013. That amount was helped by the state’s residential rollback, - Read More Via e-Edition