FINANCE_1988_0431

Name

FINANCE_1988_0431

Date

9/19/1988

Category

Finance

Keywords

Re: establishment of the FY89 tax rate & a total of six recommendations with the request that the City Council authorize same, as follows: use of $4,500,000. in Unreserved Fund Balance to offset FY89 expenditures as called for in the FY89 budget; appropriation of $150,000. to Employee Benefits to cover the cost of increased City contribution to retired employee life insurance program; appropriation of $68, 000. to the Fire Dept, for new safety helmets; Classification of property into the 5 classess allowed for the purpose of allocating the tax levy; approval of a 20% residential exemption for owner occupied homes which should result in a residential tax rate of $9.26 & commercial, industrial & personal property tax of $20.06; & doubling of the normal value of statutory exemptions for FY89.

Year

1 988