Mayor Dave Hatter has sent the following newsletter message to the citizens of Fort Wright:
It’s that time of year when City Council sets the Real and Personal property tax rates for the fiscal year. We will be having the second reading of Ordinance 07-16 which sets the 2016 tax rates at a Special Meeting immediately before the regularly scheduled Caucus meeting on Wednesday, September 21st, 2016 at 6 p.m.
We are very pleased to announce that the proposed plan calls for a slight reduction in the Real Property Rate and no change in the Personal Property Rate. Despite the decrease in tax rates, we anticipate an increase in operating revenue which is due to the increasing value of properties within the City. The marginal increase in revenue, estimated at approximately $50,000 or roughly 1% of our total operating budget, will allow the City to continue providing the services and improvements that make our community a great place to live, work and play. The proposed tax rates also allow us to meet the needs of our Capital Improvement Plan (CIP). The CIP calls for paying cash for all capital needs over the next 5 years which ensures that the City will remain free of any long-term debt.
From the perspective of a property owner in the City, the best way to illustrate the impact of the change in tax rate is through an example. Last year, a property owner in the city paid $276 per $100,000 of assessed value on his or her property. So a home valued at $200,000 would result in a tax bill of $552 last year. If the proposed plan for 2016 is approved on Wednesday, will see that number decrease to $270 per $100,000 of assessed value, which means the same home valued at $200,000 would result in a tax bill of $540 this year.
We will also have the second reading of Ordinance 08-16 that sets the Waste Collection Fee for this fiscal year. We are under contract with Rumpke, and this amount is straight pass through based on that contract. The proposed Waste Collection Fee for this fiscal year is $149.54 per dwelling unit, which is the same rate as last year.
As your representatives, we strive to be good shepherds of YOUR money and YOUR city. We work closely with the fantastic team of employees who serve us on a daily basis to provide the best possible services and amenities to the citizens of Fort Wright in the most efficient and effective way possible. As fellow taxpaying residents, we are very pleased to see a reduction in tax rates and frankly excited to know that the increasing revenue will help our team continue to improve our services. As our City continues to grow through new housing and new businesses, we hope to see the tax reduction trend continue in the future.
One additional note. The reason we are conducting a Special Meeting is to ensure our compliance with state law regarding meeting notification and open meeting requirements, and to ensure the timely distribution of tax bills to our residents and businesses. By law, the City is only allowed to take action on legal matters such as tax rates in a legislative session. In Fort Wright, we only have one legislative session per month and that took place as scheduled on September 7th, where we had the first reading of the tax ordinance. Special Meetings of City Council operate in the same fashion as a regular meeting; the meeting will be advertised; the agenda will be published; and, most importantly, it is a public meeting that anyone can attend. The only real difference between a Special Meeting and a Regular Meeting is Council can only discuss and vote on items that are listed on the posted agenda. If we do not conduct the Special Meeting on the 21st, we would be unable to take action on this issue until our next regularly scheduled meeting on October 5th, delaying the distribution of the tax bills beyond the date our residents and businesses are accustomed to receiving them. Additionally, waiting until October 5th gives residents and businesses less time to pay their taxes.
We encourage your feedback on this important issue. Please feel free to attend the council meeting on the 21st or contact the city offices for further information. And you are always welcome to e-mail me or call me at 859-414-4610.