Public Hearing – Final Adoption of Budget
The city water rate is currently based on a 12,000 gallon monthly minimum. The current rate is $2.00 per 1,000 for the first 12,000 gallons. The council approved an increase in the rate to $2.25 for the first 12,000. That is approximately an 11% increase. For usage over 12,000 gallons per month the current rate is $3.00 per thousand. This rate will now increase to $3.25. The council estimates that this will generate an additional $50,000 in revenue per year. The city plans to use these additional funds for capital improvement projects that will be needed in the next few years. The city is planning improvements to 700 East and other projects that will need water system updates to be a part of the total package of improvements. They new water rates will be effective July 1.
The council could not finalize the approval of tax rates. The county has not yet provided the numbers. The council continued that portion of the public hearing until the county provides the new rates.