La Crescent City Council members have unanimously approved a $5.4 million 2018 budget that will see the portion of property taxes residents pay to the city increase by a little over 1 percent.
The council adopted the budget at its meeting Monday after holding a public hearing on the spending plan. No members of the public spoke at the the hearing on the budget, which would increase spending by an estimated 6.5 percent next year, according to city administrator Bill Waller.
The budget includes an estimated property tax levy of $1.8 million, an increase of about $165,000 from the 2017 levy. Average property taxes for La Crescent residents would rise slightly above 1 percent, city officials estimate, as a result of the higher levy.
Homeowners with a property that has a market value of $132,200, would see an expected 1.3 percent increase in their real estate taxes to $735. An owner with a home valued at $162,000 can expect to pay around $964. A $250,000 home would see an expected 1.5 percent increase with a property tax bill of about $1620.
The numbers are just for the city portion of property taxes La Crescent residents pay and don’t include additional amounts that go to other taxing bodies, such as the school district.
Waller said that questions concerning property values and classification will be addressed at the April 2018 Board of Equalization meeting.