The Marthasville Board of Aldermen approved their 2024 tax rate at their Aug. 21 meeting.
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Marthasville approved its tax rate for 2024, which will remain the same from 2023.
The rate was approved at the Aug. 21 Marthasville Board of Aldermen meeting following a public hearing where there was no comment.
The rate will remain at $0.7112 per $100 of assessed value from 2023 when it was last increased, from $0.6614 per $100 of assessed value in 2022.
That rate is combined between a tax for the general fund at $0.5791 per $100 of assessed value and the street lighting fund at $0.1321 per $100 of assessed value.
“That’s the only two tax rates we did in the city of Marthasville,” said Mayor David Lange.
He also noted that Marthasville’s changes in valuation will mean that the amount actually raised by that tax rate will decrease slightly.
“Real estate valuation, assessed valuation, went up roughly $150,000, but personal property values have actually dropped $185,000, so proposed tax generated has actually dropped $40,000 from ‘23 to ‘24,” said Lange.
In total, Marthasville expects to bring in just $156,000 in tax revenues in 2024, with $130,000 allocated to the general fund and the remaining $26,000 going into the street light fund.
