Property Taxes are revenues collected by the City that fund services and improvements used by residents every day. There are two types or categories of property tax, primary and secondary taxes. State law and City Charter allow the City to levy taxes on the property for the following purposes with certain limitations and restrictions.
Primary Taxes are those used for general government operations. The FY 2022-23 primary property tax rate was reduced from the Fiscal Year (FY) 2021-22 rate of $0.2426 per $100 of assessed valuation to $0.2326 per $100 of assessed valuation. These funds are used for general City services like Police, Fire, and Parks operations.
Secondary Taxes are restricted for general bonded debt obligations and voter-approved budget overrides. The FY 2022‑23 secondary property tax rate was Adopted at the same rate as the FY 2021-22 rate of $0.87 per $100 of assessed valuation. These funds are used to pay for scheduled debt payments owed for new or improved buildings, parks, streets, and other capital projects.