BAXTER — Baxter residents have seen their property market values go down for 2013, as well as their property taxes — which could be a reason why no one attended Monday’s 2013 budget and tax levy presentation.
The Baxter City Council held the city’s 2013 budget and tax levy presentation that allows residents a chance to ask questions about the city’s budget and levy, as well about their property values.
Baxter’s preliminary 2013 property tax levy of $5,450,200, is the same as it was in 2012. Of the total levy, $1,126,000 is levied for debt services as a special levy and $4,324,200 is the total operating levy.
The Baxter City Council will certify the final levy at its regular meeting scheduled at 7 p.m. Tuesday.
Baxter Finance Director Jeremy Vacinek said the city has reduced its levy for the fourth year in a row.
In Baxter, the preliminary levy of $5,450,200 would require an estimated 53.474 tax rate, compared to 51.474 tax rate in 2012.
For Baxter’s portion of taxes, a homeowner with a $150,000 home value in 2012 paid $1,514 in total taxes. This same home in 2013 decreased in value to $140,250 and would pay $1,453 in total taxes for 2013. Vacinek said this comparison he made is calculated with an average 6.5 percent residential reduction from 2012 to 2013. With a 1.8 percent in commercial valuation reduction from 2012 to 2013, a commercial property with an estimated $500,000 market value paid $15,200 in 2012 and will pay $15,548 in 2013.
In 2012, the revenue from property taxes was $4,324,200 and if the 2013 budget is adopted, $4,354,200 of revenue will come from property taxes.