June 14, 2012 | Vol. 39, No. 24

Property tax levy resolution passes

Petersburg City Council passed Resolution 2010 to establish the rate of levy of property tax for the 2012 and 2013 fiscal year.

The assessed taxable value of real property for the City of Petersburg for municipal purposes for calendar year 2012 is $258,764,945.

The tax levy for general operations of the city is $1,190,319 which is determined at a 4.6 mill rate; the tax levy for general operations of the school is $1,141,153 which is determined at a 4.41 mill rate.

Tax levies for General Obligation Bonds for constructing and equipping a new community aquatic center is $199,249 determined at a .77 mill rate; the improvements to the Petersburg city schools is $80,217 determined at a .31 mill rate; construction and expansion of the vocational building at Petersburg city schools is $33,639 determined at a .13 mill rate and the design and construction of Mountain View Manor is $199,249 determined at a .77 mill rate.

This brings the total property tax levy to $2,843,827 and a 10.99 mill rate.

City Councilman Don Koenigs spoke to the council about concerns for the future and what effect the 10.99 mill rate will have on the possible borough formation.

“I would like the council to look into dividing the area into three service areas with three levels of taxation,” Koenigs said. “I feel the borough could be rejected for fear of taxation.”

Koenigs suggests the ordinance be revised to demonstrate collective intent. “We need to take a look at the inequity and come up with a plan to correct this.”

The resolution was passed unanimously.

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