Staff is recommending a city levy of $23,892,000, which is an increase of $1,406,000 or 6.25 percent over last year, and an EDA levy of $500,000, which is no change from last year.  No changes were made to the levy from the preliminary levy that was set in September.

For the median value home with a property value increase of 21.7 percent, from $284,700 to $346,500, this equates to an annual increase of $95 (10.8 percent) in property taxes.  Absent any change in home value from the previous year, homeowners can expect a tax decrease of $98, or about 11.1 percent.  The city tax levy will significantly reduce the city's tax rate from 32.11 to an estimated 28.54 percent.