FY 2022 Board of Assessors Tax Classification

At the Tax Classification Hearing on Tuesday, November 23, 2021, the City Council voted a Fiscal Year 2022 residential factor of 0.717901. By the City Council voting to shift the residential factor to less than 1, a portion of the tax levy shifts from residential properties to commercial, industrial and personal property taxpayers. This residential factor is based on a State mandated maximum tax levy shift of 175% on the Commercial, Industrial and Personal Property classes of property. The revaluation of all property within the City and the selection of a residential factor of 0.717901 by the City Council resulted in the following:

FY 2022 Average Single Family Assessed Value: $552,426
FY 2022 Residential Tax Rate: $9.34 per $1,000 of assessed value
FY 2022 (CIP) Commercial / Industrial / Personal Property: $22.77 per $1,000 of assessed value
FY 2022 Average Single Family Tax Bill: $5,160
FY 2022 Average Single Family Tax Bill Increase: $288 annual

Click the link to view the FY 2022 Board of Assessors Tax Classification Packet