Mayor Mike Schmitt and the Elgin City Council put together final budget figures for the 2013-2014 Fiscal Year last week.
City Clerk Vicki Miller, Schmitt and the council held a budget workshop in preparation for the annual budget hearing which will be held Wednesday, Sept. 18 at 7 p.m. at City Hall.
This year the proposed City budget calls for a tax asking of $135,000, up $3,000 from one year ago. To generate that amount of property taxes, the City is proposing a new tax rate of 0.363588, down from 0.394697 one year ago. Two years ago the tax rate was 0.399609.
The proposed budget calls for disbursements and transfers of nearly $969,000 with a necessary cash reserve of $216,533.94.
The hearing on Sept. 18 is open to the public.
For the complete story, see the print edition of The Elgin Review
