New city budget means typical homeowner pays extra $172 in prop taxes
Rochester Voice 8:38 a.m.
Sunday, June 19, 2022 8:39 am
City Council adjustments included cuts to City and School cash CIP and increasing revenues from grant funding sources and Tax Increment Financing Districts. (Courtesy)
ROCHESTER - Rochester's City Council has approved an operating budget of $149,644,462, $2,161,577 below the tax cap.
The newly adopted budget reflects several adjustments, including non-property tax revenue increases to reflect strong motor vehicle registration revenues and Waste Management Host Community Fees, a new Police Lieutenant position, and additional state aid for both the city and school.
Following the adoption of the budget, the projected 2022 tax rate is estimated at $25.34, a $0.69 increase or 2.81 percent over the 2021 $24.65 rate.
For a $250,000 home - without changes to other factors such as the property's assessment - the annual tax bill would increase by about $172.
$71,906,086 of the $149,644,462 operating budget is to be raised by taxes, which is a 4.01 percent increase over the $69,131,939 amount to be raised by taxes in the FY22 budget.
The FY 2023 Capital Improvements Program for City services, enterprise funds, and the School Department was finalized with the adoption of the $15,199,250 capital budget.
City Council adjustments included cuts to City and School cash CIP and increasing revenues from grant funding sources and Tax Increment Financing Districts.
"The total allowable FY23 tax effort under the tax cap was $74,067,663 which is a 7.14 percent," said Deputy City Manager and Finance Director Kathryn Ambrose. "The adopted budget's 4.01 percent increase to the tax effort was the result of an ongoing effort to mitigate tax impact while continuing to provide services for which we can be proud."
First issue property tax bills have already been sent out and due by July 14.