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Trinity Standard - Local News

Copyright 2012 - Polk County Publishing Company

 

City okays 66.9¢ tax rate
Trinity Standard -

TRINITY – During their meeting last week, the Trinity City Council formally approved a 66.9-cent tax rate for 2012. Although the new rate is down from last year’s 71.49 cents per $100 valuation, under state law it constitutes a tax increase of just under 8 percent. By adopting the lower 66.9 cent rate, the city technically increased taxes because the new rate is higher than the calculated “effective tax rate” set for the year. The effective rate generally is the rate a taxing entity such as the city would have to set to produce the same amount of income as the preceding year. City Manager Buddy Drake noted that the 2012 effective rate dropped to 61.95 cents because the city paid off some of its long-term debt during the past year and because of an increase in property values. During the meeting, the city also adopted its 2013 budget, which goes into effect on Oct. 1. Under the spending plan, the city expects to collect $3,435,415 in revenue during the coming year while expenses are projected at $3,420,818. This would give the city a surplus of $14,597 but Drake noted following the meeting, that money is expected to be allocated for unexpected items during the coming 12 months. The major budget allocations include $629,i838 for general government; $485,047 for police; $509,754 for street and alley work; $81,767 for the library; $51,162 for parks and recreation; $78,413 for fire and health programs; and $56,291 for the municipal court. The city also expects to spend just over $1.3 million for on water and sewer services and just over $218,000 on trash collection,

 

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