Remarks by Kevin Kramer
3 remarks on the record, newest first · Page 1 of 1
“Thank you, Mr. President. I would say this is one of those items that is fairly simple and straightforward, but the computation of it makes it a little bit more complex, so I'll explain that. State law allows that we only raise property taxes, or that we only generate revenue from property taxes up to 4% increase. um so in a year when properties are evaluated at above that four percent we have to readjust the rate to keep it at four percent um the mayor calculated that four percent into the budget this summer so when we passed the budget we passed it with a four percent increase um in order…”
“Absolutely. Please explain it better than I did.”
“Yeah, I believe that's true. If you look back over the last X number of years, we have traditionally lowered the rate in order to get to that 4% because our housing values have traditionally exceeded 4%. I think in my time in leadership on budget, we may have twice, once or twice, adjusted the rate up. Normally, we're adjusting the rate down. So yes, the rates are probably as low as they've ever been.”