City’s budget plan for 2002 keeps a lid on property taxes
Eudora's proposed budget for 2002 means a savings of about one dollar in property taxes for a homeowner with a house valued at $100,000.
Under the city's proposed budget, taxes on that $100,000 home would be about $210, compared to about $211 the previous year.
The slight reduction in property taxes is a reflection of a hold-the-line budget city officials have put together. The proposed budget for 2002 totals $8.7 million, and the mill levy needed to finance the budget dropped from 18.4 mills to just under 18.3 mills.
A mill represents $1 in property taxes for every $1,000 in assessed valuation.
At the last city council meeting, several council members said they were pleased that they could pare the tax rate while maintaining infrastructure and services for residents.
"I think we did well, all in all," said council member Dan Gregg.
To make up the proposed increase for the city budget, increasing from $7.1 in 2001 to $8.7 million in 2002, the city is counting on several non-levy funds, said Ken Hite, a certified public accountant with Lowenthal, Singleton, Webb and Wilson in Lawrence. Hite assisted the city with the budget process.
"There are several non-levy funds which are experiencing an increase because of anticipated projects that are being undertaken," Hite said.
In the past year, Eudora has seen an increase in total property valuation, up from $21.8 million to $22.1 million.
That increase is a reflection of the town's growth and an increase in the market value of property.
Property values in Eudora have increase between 7 percent and 8 percent in the last few years, Johnson said
While taxpayers are getting a small break in their city taxes, that's only one part of their total tax bill. The school district and county will be adding to that total property tax bill.