The Warrenton Board of Aldermen voted Aug. 29 to set the total property tax rate for 2013 at 45.9 cents per each $100 of assessed valuation for general municipal and public park purposes.That’s a …
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The Warrenton Board of Aldermen voted Aug. 29 to set the total property tax rate for 2013 at 45.9 cents per each $100 of assessed valuation for general municipal and public park purposes.That’s a slight increase from the 2012 property tax levy of 45.41 cents.The board voted 4-0 to approve an ordinance establishing the new levy for all real and personal property in the city. The measure established the rate of annual taxes to be collected by the city for 2013.Each tax rate is determined by dividing the amount of revenue required by the current assessed valuation. The result is multiplied by 100 so the tax rate will be expressed in cents per $100 valuation.The new tax rate includes a general fund levy of 28.83 cents and 17.07 cents for the park fund.The proposed general fund levy is projected to generate $282,100 in revenue. The anticipated revenue from the park tax is estimated at $166,800.The assessed valuations for real estate for 2013 was $81,661,252, up from $81,267,196 in 2012. The assessed valuations for personal property for 2013 was $16,799,731, up from $16,435,832 in 2012.City Approves Slight Tax Levy Increase
