City tax rate will rise due to bond payments

Tax requirement for Albion’s city operating budget will decline for 2015-16, but an increase in the property tax levy for debt service will result in a net increase of $75,310 or 16.71 percent in the city’s total property tax request.
The city council reviewed its proposed budget during a special meeting Tuesday night, Aug. 25, with Terry Galloway, CPA.
As proposed, the city’s general fund property tax request would decline for the second time in four years. The proposed total for 2015-16 is $301,003, a reduction of $16,400 from last year’s general fund request of $316,408. At the same time, property taxes to support the debt service would total $194,103, which is an increase of about $81,000 from the previous year.
Details in the Sept. 2 Albion News Print & E-Editions.