- We should limit the annual tax levy increase by 2 1/2%.
- Not add “New Growth” on top of the 2 1/2 percent, which can be a significant number. Almost as large as the 2 1/2% increase.
For example, the “New Growth” number for FY17 I cited $5,400,000 dollars. Of which, we are using $3,900,000 dollars to be added to the 2 1/2% for the FY17 budget. Thanks Nick.
Although it is good that we did no use the entire “New Growth” number in FY17 and increased the unused tax levy capacity by $1,500,000, this still begs the question in my column, however;.
- Isn’t 2 1/2% annual increase in the Tax Levy enough for commercial and residential taxpayers each year (which is approximately $5,000,000 +)?
- Do we really need to add any “New Growth” at all, which is currently budgeted at $3,900,000 for FY17, on top of a 2 1/2%?
If we did that the unused tax levy would increase from $10,600,000 to $14,500,000, by the way..