Public Hearing on 2026 Property Tax Rates
◦ The meeting opened at 6:00 p.m. with a public hearing to discuss the 2026 property tax rates.
◦ A guest speaker provided the tax rate calculations: 45.5 cents for residential, zero for agriculture, 47.9 cents for commercial, and 79 cents for personal property.
◦ It was noted that residential and commercial rates increased by approximately 2 cents because the city's total assessed valuation decreased from approximately $10.8 million to $10.5 million.
◦ The guest speaker confirmed the timeline for receiving assessed valuations from the county and the process of reviewing them with the state auditor.
◦ No members of the public offered questions during the hearing.
◦ The hearing concluded at 6:15 p.m..
Special Meeting and Legislative Action
◦ The board meeting was called to order at 6:15 p.m. with a quorum present.
◦ The agenda was approved as written.
◦ The board moved to approve Bill Number 26-04, which establishes the 2026 property tax rate as Ordinance Number 782.
◦ The board completed the first and second readings of the ordinance.
◦ Following the readings, the board voted unanimously to approve the bill, with Alderman Knapp absent.
◦ The mayor indicated that the necessary documents would be signed and filed by the city clerk to meet the deadline.
◦ The meeting was adjourned at 6:21 p.m..