Compression drops, meaning SH will get more levy revenue
November 11, 2020
Compression rates have gone down significantly in Sweet Home, which means the recently passed police and library levies will likely generate a lot more revenue than previously expected.
Originally, the city asked for levies based on an expected compression rate of 18%, but the compression rate fell by 3 percent after those levies were set. That’s because home prices are rising rapidly in Sweet Home, which has a big impact on compression.
“We did not anticipate that property tax values would increase as much as it did for market value,” Finance Director Brandon Neish said. Market value...