6th year tax levy has remained flat
On Tuesday, Dec. 3, the Hanover City Council will host the truth-in-taxation hearing to review the proposed 2014 budget and proposed 2014 tax levy.
The city proposes a flat levy for 2014, the sixth consecutive year the tax levy has remained flat.
At the meeting, residents will have the opportunity to comment on the budget and levy. Hanover is proposing a 2014 levy of $1,268,280, which is the same as 2013.
The council has been able to keep the levy stable by redirecting debt savings and proposed savings from the 2014 sales tax exemption towards capital improvements, while utilizing increases in building permits to offset increased contract costs for sheriff, assessor, and other city services.
Building permits picked up steadily in 2013, with a projected 45 new homes built during the year. Expectations are that 2014 will be at a similar level, so long as there are vacant lots available. The City currently has four full-time employees. Building permits picked up steadily in 2013, with a projected 45 new homes built during the year. Expectations are that 2014 will be at a similar level, so long as there are vacant lots available. The city currently has four full-time employees.
Planned expenditures for 2014 include infrastructure improvements, many of which were put on hold during the recession. The city performed a Pavement Management study during 2013 to assess the needs of the existing roadways, and is in the planning phase of which projects to consider for 2014. In addition, the city hopes to complete repairs to the Historical Bridge during 2014.
The EDA is proposing a levy of $44,927 for 2014, which is flat from 2013. Although economic activity has increased in 2013, with at least 4 new businesses making their home in Hanover, the EDA believes it has sufficient reserves to maintain existing programs for 2014 without raising the levy.
If residents have questions about budget or levy, they can contact Assistant City Administrator Annita Smythe at 763-497-3777 (ex. 2).