The Hutchinson City Council last night (Tuesday) approved the preliminary 2014 tax levy.
In accordance with State Statute, the City must certify a preliminary 2014 tax levy to the County by September 16, of this year for the General Fund and Debt Service Fund.
With the additional Local Government Aid funding of $428,927 for 2014 and the sales tax exemption effective January 1, 2014, the General Fund’s levy cannot be increased and is limited to $4,479,446.
There is no levy limit for the Debt Levy and the council adopted a preliminary 5.0% increase, or $2,073,519 for a total levy amount of about $6.5-million.
The 5 % increase is the maximum amount the city can approve when the final levy is adopted in December, but can reduce it.
The council set the public informational “Truth in Taxation Hearing”, required by state law, for December 3rd at 6pm in the City Council chambers.