The New Era - All about Sweet Home since 1929

Finance: Property tax revenues shaping up to deliver greater-than-expected compression

 

October 18, 2016



Property tax compression increased this year, as expected, following an increase in property tax rates for library and police services; but it increased more than the city budget projected, based on tax information released this month by Linn County.

“Property tax bills are coming out,” said city Finance Director Pat Gray as she reported the information to the City Council last week. “Bad news and good news. Our value went up. The unfortunate part of going up with a larger rate is it actually caused a larger compression.”

The total general government tax rate for Sweet Home incre...



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