Tax rate to decrease as assessed valuation increases

The West Plains City Council met in a special meeting on Monday, Aug. 11 to discuss the taxy levy.

 

Before the meeting, a public hearing took place. When there was no one present to speak, the meeting promptly began with the reading of Bill 4804 and Bill 4805.

 

Bill 4805 is an ordinance providing for the levying and collection of a tax for the general revenue fund within the City of West Plains, for the year 2025, upon all real, personal and mixed property within the corporate limits of the city.

 

For the city of West Plains, the assessed valuation went up eight percent, so the tax rate has to be decreased to offset the impact on taxpayers. The city expects that the total revenue being raised from the property taxes this next year will be about five percent more than they are receiving this year. The city has an August deadline for this action, which requires more than one meeting to get finalized, hence the special meeting.

 

The first reading of this bill with a proposed tax rate of $0.3059 per $100 assessed valuation was approved with an all-in-favor from the board.

 

Bill 4804 authorizes the city administrator to execute an amendment to a State Block Grant agreement increasing the original grant amount by $882,959 for the purpose of the airport fuel system install and, further, extends the project timeline to August 30, 2027.

 

Because the construction phase is close, the city received some additional grant money. This would require the city to increase the local match. Those funds will be paid out through the transportation fund, which has enough funds to cover the match, the council heard. The first reading of this bill was approved with an all-in-favor from the councilmembers present. Councilmember Jessica Nease was not present.