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The adopted property tax rate is 4.3796 mills per $1,000 valuation on taxable property, an 18 percent decrease from the FY 2007 rate of 5.3408 mills.
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Property values (of assessed properties) and new construction
and additions increased by 13.1 percent. |
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At the beginning of the FY 2008 budget process, the City's department directors were given target amounts for their operating expenses (excluding personnel costs) that represented, generally, a zero percent increase.
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For FY 2008, the City anticipates total revenue for all Funds to be about $66.7 million. |
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The ad valorem tax revenue fund only a portion of our municipal operations. The City's projected property tax revenue of $15.8 million accounts for 63 percent of tax revenue and approximately one-quarter of all revenue.
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