(Spencer)– Residents of Spencer would say an increase in taxes under a proposed budget reviewed earlier this week by the city council.
City Manager Dean Torresen tells KUOO news the proposed budget contains 13.4 million dollars in operating expenses with another 1.5 million in capital improvements.
Torresen says the budget reflects an increase in the tax asking from $10.83 per thousand dollars valuation currently to $11.08…even though the city has seen considerable growth in new construction.
Torresen says the main reason for the increase is the rollback in residential taxes. As a result, Torresen says the city can only collect taxes on 56 percent of the assessed value of residential property. For commercial, it’s 97 percent.
A public hearing on the proposed budget is tentatively set for March 4th.
