A $200/year increase on top of my existing $8400 annual property tax doesn't sound like much, but how much will other taxing districts also increase their share of my annual bill? When voters understand that LFP's proposed 0.24 levy is added to our existing 0.71 rate they will recognize it as a 34% tax increase. Unlike our sales tax or our gas tax or our utilities tax where we just get nickeled and dimed throughout the year, our property tax causes me to actually write a big check every six months and it really gets my attention. With those other taxes we can try to buy less or drive less or be more careful with our utilities. But our house assessed value is unrelated to how much we earn or how much we spend every day. I agree with Councilman Lebo that tapping taxpayers for an additional $1.2million when our city's cash balances are running around $10million is the wrong idea at this time.
No. Right now without the proposed levy lid lift LFP receives $639 of my property tax. After the proposed levy lift the City would receive $855, a 34% increase. I'm not saying I plan on voting 'No'. I'm just saying we can expect to see many voters objecting to such a sizeable levy lid lift. Let's see how the voter education process develops. The City has hired a public relations firm to help spread it's argument.
Sure, but you said you pay $8400 in property taxes. That’s one tax bill that then gets paid out to different entities. So the bill will rise less than 3%, notably below the rate of inflation.
Yes, the tiny part of that which goes to the city will go up at a higher rate, but that portion has been rising way below the rate of inflation, let alone population growth or property value increases for…decades? I never really understand why people try to do the math on just the city portion of property taxes. It seems misleading to me, but I know that isn’t the intent.
A $200/year increase on top of my existing $8400 annual property tax doesn't sound like much, but how much will other taxing districts also increase their share of my annual bill? When voters understand that LFP's proposed 0.24 levy is added to our existing 0.71 rate they will recognize it as a 34% tax increase. Unlike our sales tax or our gas tax or our utilities tax where we just get nickeled and dimed throughout the year, our property tax causes me to actually write a big check every six months and it really gets my attention. With those other taxes we can try to buy less or drive less or be more careful with our utilities. But our house assessed value is unrelated to how much we earn or how much we spend every day. I agree with Councilman Lebo that tapping taxpayers for an additional $1.2million when our city's cash balances are running around $10million is the wrong idea at this time.
Wouldn’t $200/$8400 be just shy of a 2.5% increase in your property taxes?
No. Right now without the proposed levy lid lift LFP receives $639 of my property tax. After the proposed levy lift the City would receive $855, a 34% increase. I'm not saying I plan on voting 'No'. I'm just saying we can expect to see many voters objecting to such a sizeable levy lid lift. Let's see how the voter education process develops. The City has hired a public relations firm to help spread it's argument.
Sure, but you said you pay $8400 in property taxes. That’s one tax bill that then gets paid out to different entities. So the bill will rise less than 3%, notably below the rate of inflation.
Yes, the tiny part of that which goes to the city will go up at a higher rate, but that portion has been rising way below the rate of inflation, let alone population growth or property value increases for…decades? I never really understand why people try to do the math on just the city portion of property taxes. It seems misleading to me, but I know that isn’t the intent.