Archive for Wednesday, July 8, 2015

Basehor sets 2016 budget hearing

July 8, 2015

The Basehor City Council Monday set a public hearing for the 2016 city budget at its Aug. 3 meeting, calling for a slight property tax increase.

Budget materials provided in Monday’s agenda showed that the city’s total assessed valuation in 2016 is estimated at nearly $54.1 million, a 7.29 percent increase from this year’s assessed valuation of $50.4 million. Ad Valorem property tax revenues are estimated to increase next year by $84,614, while the city estimated a sales tax revenue increase of $8,779.

The budget currently being suggested reflects a 1-mill increase from the current mill levy rate, 29.16, with additional funding going to the city’s Bond and Interest Fund. A mill is $1 in taxes for every $1,000 in assessed value.

City staff said the property tax increase would cost the owner of a $200,000 home an additional $23.

Setting the budget hearing and publishing the proposed budget sets the maximum amount of taxes that can be levied; the council could approve a budget with a reduced mill levy rate.

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