By Mindy Mateuszczyk
Dayton City Council approved a preliminary 2013 preliminary tax levy at their Sept. 11 council meeting. The preliminary tax levy will remain exactly the same as in 2012 at $3,018,245.
The General Fund portion of the levy totals $2.713,948, an increase of $270,975, due primarily to the $232,413 of general fund revenues slated for improvements to the public works building. Improvement bonds and equipment certificates encompass the rest of the overall preliminary levy.
While the preliminary levy equals the same dollar amount in 2013 as in 2012, due to market value declines, the property tax on a median valued home in Dayton will likely decrease approximately 7 percent. Other properties may also experience property tax decreases and some will see property tax increases.
The city was required to submit a preliminary levy to the county by Sept. 15. The preliminary levy becomes the maximum amount the city can levy for 2013, but the council may choose to lower that amount before adopting a final budget and levy in December.
At $2,713,948, the 2013 preliminary budget shows an eleven percent increase from the budget that was adopted in 2012. The city anticipates a balanced budget, which is required by law, with increased revenues expected to make up the difference. Overall revenues are anticipated to increase by $270,975 with $138,800 of that increase due to increased property tax collections.