Realty Tax Consultant

The budget is one of two topics in the City Council’s work session, which will be part of Monday’s special meeting.

In his Jan. 15 memo to the mayor and council, City Administrator Joe Helfenberger said the proposed 2009/2010 budget “would increase the city’s portion of the property tax rate by 6.47 cents per thousand dollars of assessed valuation before the rollback.”

“After you factor in the state-ordered residential rollback, the average residential property taxpayer will see a 1.4 percent increase in the city portion of their property tax bill,” Helfenberger said.

Affordable housing assistance from city may be on its way – I am kinda wondering if the stock markets are set for another tumble in the near future. A few things: Air Canada is looking for an emergency loan to stave off bankrupcty. Oil seems to be in a another mini bubble. …. Norm, “’Pushing the price of lots down’ would just shift the entire burden to the tax payer.” True. But doesn’t the city’s latest proposal essentially do the same thing? “The money will be paid back to the city through property taxes over four or five years …

Taxes and Conservatives 2 – Supply Side | The Conservative Brotherhood – I remember eras of prosperity in the fifties and sixties when tax policy was other than it is now. The gap between the rich and the middle class and poor was much narrower than it is today. And I grew up in what was then the norm, … Conversely, if taxes are lowered then investments will be made to increase GDP, because the lesser tax obligation and the rising GDP will again reach equilibrium at 19.5%, with an increase in employment to complement increased production and …

For example, a residential property taxpayer with a home valued at $100,000 would expect to pay $9.06 more in 2009 than in 2008.

The proposed budget emphasizes targeting city resources toward street, sewer and bridge improvements, according to the city administrator.

“The budget also targets cutting costs through improved efficiencies such as additional automation,” he said. “At the same time, the city is seeking opportunities for tax base expansion, such as potential annexation of the airport/beltway area.”

Several “catastrophic health insurance claims” triggered an unbudgeted 10 percent increase in health insurance rates on July 1, 2008, and will require another 10 percent increase in those rates on July 1, 2009, to keep the fund solvent, Helfenberger noted.

The council will also discuss some Cedar Creek Golf Course issues.

Smart City Memphis: Pay Raises Raise Questions – If a majority of Council members believe that city government has $11 million to spare, we’d suggest that it should be used to reduce the tax rate about a dime. Alternately, City Council should have treated the three percent raise was a one -time bonus, so that it would not be … This year’s budget hearings began with such promise, but deteriorated into some grand-standing that is always expected with such a process and the racial divide that we hoped had finally passed. …

More meetings, no answers on state budget fix | Clout Street … – Wait until AFTER your tax hike is rejected to do this? It would have been much healthier if it were done before the proposed increase. He wonders why nobody supports it. Posted by: NRBovee | Jun 1, 2009 3:37:04 PM … The fault lies with the state for not only not living up to it’s commitment to contribute, but to their nasty habit of robbing the funds of billions of $’s to balance the budget, always with the promise that the money would “be there” when we needed. …

Duval taxpayers group protests new city fees | Jacksonville.com – It’s seems to me, that alot of this crap could wait until the economy showed improvement at least. This crap is contributing to the bad economy and causing more strain rather help. If I wasn’t imagining things, I would think our …. 6/10/ 2009 at 9:48 am There’s always somebody who goes against the norm. Like really, who in the hell enjoys 100% tax increases. It never fails some sadist comes out of the woodwork. Sure I agree we should have to pay our fair share, …

During the meeting’s action portion, council members most likely will vote on:

• Appointing Bankers Trust Co., N.A., of Des Moines, to serve as paying agent, note registrar and transfer agent; and, approving other agreements related to $4.8 million in general obligation capital loan notes.

• Approving the tax exemption certificate and authorizing Heffernan to sign on behalf of the city for $4.8 million in general obligation capital loan notes and levying a tax to pay the notes.

• Authorizing the mayor to submit a Community Development Block Grant Neighborhood Stabilization Program application.

http://www.ottumwa.com/local/local_story_024003935.html