Rush City adopted is 2022 budget during the Rush City Truth in Taxation meeting held Dec. 13.
Property taxes adjust based on the valuation of homes, explained Finance Director/Consultant Kay Mattson.
“The total levy increase was close to 10 percent. But with the increased taxable market value of properties in the city of Rush City, the impact on a property is actually lower than the 10% unless the value of your house increased substantially. Although the total levy, including the economic development levy and the debt levy is 10%, the total of the city portion of each individual property is a different percentage,” Mattson said.
Examples of home values and the property tax increase were given if there was no change in the valuation of the home.
• A home value of $76,000 will see a property tax increase of $13.
• A home value of $125,000 will see a property tax increase of $22.
• A home value $175,000 will see a property tax increase of $32.
• A home value of $200,000 will see a property tax increase of $35.
The adopted budget will see an annual collection of $529,486 from city taxpayers that will be used for city services. These services that will be spent include 25% on general government, city council, financial, legal services, city owned buildings; 23% on law enforcement; 21% on public works; 14% on the fire department; 10% on the airport; and 7% on culture and recreation, aquatic pool, parks, library maintenance and newsletter.
The city will receive $1.9 million in revenue for 2022 with expenditures being the same. This is $115,519 more than the 2021 expenditures.
The percentage of where the city’s revenues are received from include: 53% in local government aid; 27% from property taxes; 14% from charges of services; 4% from water and sewer as well as land and building space lease dollars; 2% in miscellaneous charges such as interest and donations; and less than 1% from licenses and permits.