Flattened assessed property valuation and reduction in sales tax from construction projects should tighten general fund expenses in 2014
Cheney’s City Council began its 2014 budget deliberations Tuesday night with a look at general fund revenues and expenses and the departments funded through property taxes and other fees.
The city’s property tax assessed valuation is expected to reach $510,239,897 next year, reflecting a relatively flat trend the past five years after a huge jump between 2009-2010 that increased valuations from the mid-$400 million mark to just over $500 million. The general property tax levy in 2014 is a proposed $1,206,497, reflecting a rate of $2.37 per $1,000 of assessed property value.
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