Truesdale passed its 2024 tax rate at the Aug. 28 board meeting.
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The Truesdale board of Aldermen passed the city’s 2024 tax rate at their Aug. 28 meeting following a public hearing. There was no comment at the public hearing.
The board passed a tax rate of $0.9494 per $100 of assessed value, an increase from last year’s rate of $0.8766 per $100 of assessed value.
Although the rate has increased, property valuation in Truesdale actually decreased by just under $2.4 million, allowing for the increase.
Nearly all of that decrease came from a loss in personal property value which fell from $13.4 million to $10.8 million while real estate values only decreased slightly.
With that tax rate and the decrease in valuations, the city of Truesdale projects it will raise just over $297,000 in taxes in 2024.
