The Warrenton Board of Aldermen approved its tax rate for 2025 at their Aug. 19 meeting.
The board approved a total tax rate of .4277 per $100 of assessed value, a decrease from .4665 per …
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The Warrenton Board of Aldermen approved its tax rate for 2025 at their Aug. 19 meeting.
The board approved a total tax rate of .4277 per $100 of assessed value, a decrease from .4665 per $100 of assessed value in 2024.
The tax rates for the general fund and parks fund were set at .2686 per $100 of assessed value and .1591 per $100 of assessed value respectively. Those rates last year were set at .2930 per $100 of assessed value and .1735 per $100 of assessed value.
Prior to the meeting, the board held a public hearing on the tax rate and there was no comment. The measure passed unanimously.
The decrease came as the city saw a roughly $24.5 million increase in total valuation. That increase was related to a 13% increase in valuations countywide from the Warren County assessor.
Due to the valuation increase, the decrease was mandated by the Hancock Amendment, a state law which requires taxing entities to decrease their rates when property values increase by more than 5% or the Consumer Price Index rate of inflation, whichever is lower.
Real estate valuation in the city increased from nearly $112 million in 2024 to just over $134 million in 2025. Personal property valuation also increased from just over $27 million in 2024 to roughly $29 million in 2025.
The city also saw an increase of just over $5 million from new construction. Increased revenues from new construction are exempt from the Hancock Amendment.
With those valuations at the new tax rate, the city expects to bring in just under $670,000 in total tax revenue. Roughly $425,000 of those funds will come from the general fund tax rate, with nearly another $244,000 coming from the parks fund tax rate.
