After a decade of tax upheaval that began with an increase to the parking tax in 2004 from 31% to 50% and was followed by the erasure of the business privilege and mercantile taxes, the creation of a payroll preparation tax, a shift in the City-school district share of the earned income tax, and a gradual decline in the rate of the parking tax due to state legislation, the City appears to be on the cusp on increasing the property tax a half a mill. Three years ago the voters of the City approved raising the tax a quarter of a mill to support the library system.
Based on budget numbers available recently, the hike is expected to raise $9 million for the City. There are a host of other revenues (not tax rates) that are projected to increase in 2015 to $31 million net.
