The public hearing on the budget will be held 5:30 p.m. Monday, Aug. 22. The public hearing for the proposed tax rate will be held 5:30 p.m. Monday, Sept. 12.

The proposed tax rate for the upcoming fiscal year is $0.566000 per $100 valuation, which is a reduction of $0.079221 from the current year. This marks the fourth straight year the tax rate has gone down.

Based on the proposed tax rate, the City will assess a total of $5,534,519 in property taxes. This is a reduction from last year and marks the first time in at least 10 years that the total assessed has fallen.

One of the reasons for the lower property taxes is the change to the sales tax distribution voters approved in May. During that election, voters approved increasing property tax relief by 1/8th of a cent through the reallocation of sales tax.