What is a “No Tax Increase” Bond Issue
A "No Tax Increase" Bond Issue is made possible when existing bond issues are paid off. As the debt decreases, the City can issue new bonds, with voter approval, and pay them off over time within the current property tax levy. Thus, there is no need to increase the current property tax levy to pay the debt. The current property tax levy for the City is $1.4926 per $100 of assessed value of which $0.4697 is for debt service. The debt levy will not change if the four proposed questions for the 2010 “No Tax Increase” Bond Issue are approved.
2009 Property Tax Levy by Taxing District
View a complete listing of the tax breakdown.
The City's current debt levy is .4697 per $100 of assessed value.