Mexico City Council conducted a public hearing at Monday night's regular monthly meeting
Mexico City Council conducted a public hearing at last night's regular monthly meeting to establish city property tax rates for the 2013 Property Tax Levy. The new proposed tax rate is nearly $.72 cents.
The State Auditor's office calculates the allowable property tax rates based on keeping revenue neutral, exclusive of new construction.
Based on the 2013 Assessed Value ($140,762,010) and the State Auditor's Office allowable tax rate calculations of .7182, revenues for the City of Mexico would be $1,010,953. Based on the 2013 Assessed Value ($140,762,010), revenues for the City of Mexico will be as follows for Budget Year 2013-2014.
Proposed Revenue by Funding Proposed Revenue Proposed Tax Rate Using Current Rates
General Fund $588,667 $.4182
Parks and Recreation 140,762 .1000
Health Department 281,524 .2000.
The tax rates are set to produce the revenues that the budget for the fiscal year beginning Oct. 1, 2013, shows to be required from the property tax. Each tax rate is determined by dividing the amount of gross revenue needed by the current assessed valuation. The result is multiplied by 100 so the tax rate will be expressed in cents per $100 valuation.
Tax Year 2013
Real Estate, $94,007,420, Personal, $38,117,930, Railroads and Utilities, $8,636,660 for a total of $140,762,010.
Tax Year 2012
Real Estate, $88,458,610; Personal, $35,501,460; Railroads and Utilities, $14,596,034 with a total of $138,556,104.
"We never like to raise taxes. We like keeping it the same," said Mexico Mayor Ron Loesch. "But, this raise is required by law. We're just doing the right thing and holding the line, with a slight increase."
The hearing closed at 7:05 p.m. with no comments or concerns voiced by the public. Later in the regular session, the council approved the new tax rate at $.7182, with a 4-0 vote. Councilman Dan Botts was absent.
Council also heard and approved two readings of an ordinance to approve the final plat of the Mommens Subdivision to the City of Mexico.
Terrace Circle resident Mary Sobba approached the council to follow up on the standing water issue in her cul-de-sac. Sobba has addressed the council two previous times about Terrace Circle, and just wanted an update on the findings.
City Engineer Kensey Russell told Sobba city crews have done some road repairs and replaced a main to try and solve the problems. Russell said there is water under the roadway that needs to be drained before they can go any further in their research. Sobba showed council photograph of what she calls "a dam" in front of her driveway. Russell gave a time frame of 3-4 weeks before they have any more answers.
"We want to look at all options," he said.