PRINCETON – The proposed 2013 tax levy ordinance is available for reading at Princeton City Hall.
At this week’s meeting, the Princeton City Council had a first reading of the upcoming tax levy ordinance and is expected to formally adopt the ordinance after a second reading. The ordinance deals with levying taxes for the fiscal year beginning May 1, 2014, and ending April 30, 2015.
Princeton City Manager Jeff Clawson said the city’s proposed tax levy is for about $1.6 million, which is a very small increase from last year. The city’s tax rate, exclusive of taxes for Princeton Public Library, is about 81 cents, with the library adding another 35 to 36 cents, for a total tax rate of about $1.15-$1.16, the city manager said.
The 2012-13 tax levy brought in revenue to the city of $1,594,553 through property taxes, Clawson said. The proposed tax levy shows an estimated total revenue of $26,565,000 for the city budget, with about $24,970,447 of that amount coming from revenue sources other than the tax levy, he said.
The city council also received the city’s recent fiscal year audit, which Clawson said showed “a solid financial report for the city.” The 75-page report was accepted as presented.
In other business, Clawson reported he and Princeton City Clerk Pete Nelson had gone recently to Bloomington to take part in the State Farm Insurance Company’s used furniture program for governmental entities. Clawson had submitted a request for the program, and the city received about $20,000 in good used furniture, including 35 office chairs, tables and desks.
The program is a great service provided by State Farm Insurance, Clawson said.
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