City Hall update: Property tax relief
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City takes aim at property tax relief
The City Council on April 29 diverted $2.8 million from street paving projects into a “property tax relief account” that might quell a property tax hike for homeowners in 2012.
Council Member Betsy Hodges (13th Ward), who authored the tax relief account, said $2.8 million is the equivalent of a 1 percent reduction to a tax hike. For example, if the city needed to raise the tax levy by 3 percent, $2.8 million would reduce that increase to 2 percent.
The City Council on April 29 diverted $2.8 million from street paving projects into a “property tax relief account” that might quell a property tax hike for homeowners in 2012.
Council Member Betsy Hodges (13th Ward), who authored the tax relief account, said $2.8 million is the equivalent of a 1 percent reduction to a tax hike. For example, if the city needed to raise the tax levy by 3 percent, $2.8 million would reduce that increase to 2 percent.
