- City Council introduces new property tax levy reduction
- Overall property tax levy to be reduced by 3.8%
- Tax cut will total about 1.2 million dollars for properties in the city
BROADCAST TRANSCRIPT:
Homeowners may see lower property taxes rates in 2025 because the Mayor and City Council agreed property owners should see some relief.
"We're hearing from our constituents and it's a major issue at the state and local levels," said City Council president Pete Festersen.
Festersent created the amendment to the 2025 budget. Itis designed to help homeowners with property taxes and will reduce the overall property tax levy by 3.8%.
Mayor Jean Stothert backed the amendment and it was introduced it during Tuesday's council meeting.
"It will increase our, our property tax rate reduction and take about a million more dollars to return that to taxpayers," said Festersen.
Though it will reduce the total levy, this vote directly impacts the cities cut, reducing homeowners payment by 1.74 cents per 100 dollars of the assessed values of their homes.
Across the board the tax cut will total about 1.2 million dollars for properties in the city.
"The city's portion of that is actually relatively small compared to our other jurisdictions and school districts. But it's important we all do all we can to reduce property taxes," said Festersen.
City Council voted to approve the amendment 7 to 0. This is the second year in a row that city council has voted to lower property taxes.
