City budget hearing set for Sept. 9
September 2, 2008
Albion City Council will hold a public hearing on the 2008-09 city budget next Tuesday evening, Sept. 9, at 7:30 p.m. during its regular meeting.
The proposed budget shows a slight reduction in the total property tax rate to .407590 cents per $100. However, when the Airport Authority tax rate is factored in, there is no rate change from last year.
With a 97 percent increase in total property valuation, mostly due to the ethanol plant personal property being added to the tax rolls, the same levy will raise $208,438 more in revenue for the coming year.
In their recent budget planning session, the council decided to use the same levy to build up cash reserves this year.
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