City leaders discuss property tax increase

PROPERTY TAX INCREASE

[lin_video src=http://eplayer.clipsyndicate.com/embed/player.js?aspect_ratio=16×9&auto_next=1&auto_start=0&div_id=videoplayer-1378786756&height=360&page_count=5&pf_id=9620&show_title=1&va_id=4306977&width=640&windows=2 service=syndicaster width=640 height=360 div_id=videoplayer-1378786756 type=script]

ALBERT LEA, Minn. — Property taxes could be on the rise for folks in Albert Lea.

The Albert Lea City Council will be discussing a potential 6.74 percent increase in their debt service levy.

That would end up raising property taxes for residential homes and commercial businesses.

It’s being done to help pay for infrastructure repairs happening around town.

“We are using other sources of funds such as assessments, water and sewer funds,” City Manager Chad Adams said. “But, ultimately, there is a gap where the property tax payers are being asked to kind of fund the rest of that gap. That includes the Broadway reconstruction and street scape project, the west 9th street project.”

Currently, he says a residential home valued at $100,000 would see an increase of about 40 dollars.

A commercial business valued at $200,000 would see an increase of about 149 dollars.

ALBERT LEA, Minn. — Property taxes could be on the rise for folks in Albert Lea.

   

The Albert Lea City Council will be discussing a potential 6.74 percent increase in their debt service levy.

   

That would end up raising property taxes for residential homes and commercial businesses.

   

It’s being done to help pay for infrastructure repairs happening around town.

 

“We are using other sources of funds such as assessments, water and sewer funds,” City Manager Chad Adams said. “But, ultimately, there is a gap where the property tax payers are being asked to kind of fund the rest of that gap. That includes the Broadway reconstruction and street scape project, the west 9th street project.”

    

Currently, he says a residential home valued at $100,000 would see an increase of about 40 dollars.

    

A commercial business valued at $200,000 would see an increase of about 149 dollars.

blog comments powered by Disqus