Tax Rate Drops to $1.00

City Council voted last night to cut the real estate tax rate down to $1.00, the lowest that it’s been in some years, John Yellig reports in today’s Daily Progress. That cut is a result of skyrocketing assessment rates, requiring lower tax rates in order to maintain (or increase) income for the city. Even with the cut, there will still be an effective tax increase for most residents.

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