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.309 <br /> TUESDAY, Y~Y 25, 1993 <br /> <br />also alleged that the School Bus Division serviced private vehicles. <br />Frank Zembreski, 906 Clarke Road, questioned the amount of money <br />resulting from proposed tax increases and asked about the policy <br />regarding the repair of utility cuts in City streets. There being no <br />other comments, Vice-Mayor Adams declared the public hearing closed. <br />All members of Council expressed appreciation to those in attendance <br />for their comments and interest in this matter. Vice-Mayor Adams noted <br />Council would consider the comments made in the public hearing and <br />would consider final adoption of the FY 93-94 Budget during its regular <br />meeting scheduled for June 8, 1993. <br /> <br />Council conducted a public hearing on the effective tax rate increase <br />due to the 1992 Reassessment. Vice-Mayor Adams read the required <br />newspaper advertisement of the public hearing in which it was noted the <br />total assessed value of real property, excluding additional assessments <br />due to new construction or improvements to property exceeds last year's <br />total assessed value of real property by 2 percent. Therefore, the tax <br />rate which would levy the same amount of real estate tax as last year <br />would be $.74 per $100 in assessed valuation. Council proposed to <br />adopt a tax rate of $.84 per $100 of assessed value, which results in <br />a 13% "effective tax rate increase." There being no comments from <br />persons present on this matter, Vice-Mayor Adams declared the public <br />hearing closed. Upon motion, duly seconded and by unanimous vote, <br />Council set the real estate tax rate at $.84 per $100 of assessed value <br />for FY 93-94. <br /> <br />Council acknowledged a financial report for the month ending April 30, <br />1993. <br /> <br /> <br />