Wednesday, August 15, 2007

With apologies to National Lampoon 

Headline: St. Paul mayor calls for more aid from state to keep tax hikes down
[Chris] Coleman wants city leaders to take a three-year approach toward balancing the budget by 2010 by recommending comparable levy increases in the coming years. If the city doesn't receive the $10.2 million additional state aid, Coleman anticipates a 14.6 percent tax levy increase. That would cost the owner of a home assessed at $181,000 -- the median assessment in St. Paul -- $72 more next year for city services.

In addition, homeowners who see a dramatic increase in their home's taxable market values would see even higher increases.

However, if the city does succeed in getting more local government aid, Coleman recommends a 7 percent tax levy increase. The cost for the owner of that same house, assessed at $181,000, would then be $30. If that house's taxable value also increased by 13 percent, the tax bill would rise by $94.
(h/t: Michael)

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