Current Tax Rate: $27.54 The tax rate is the amount per $1,000 of taxable valuation that you pay in taxes. It is expressed in dollars and cents. For example, a home with a taxable valuation of $100,000 will have an annual tax levy of $2,754 on a tax rate of $27.54 ($100,000 x .02754 = $2,754).
The City Council determines the annual amount of revenue to be raised from property taxes to fund all municipal services. The Assessing Department determines the total taxable valuation of all real estate and personal property in the City. The tax rate is calculated by dividing the total amount to be raised from property taxes by the total taxable valuation of the City.