- Real Estate
- Paris Flash
City Finance Director Gene Anderson has indicated the ad valorem tax rate for the City of Paris will drop slightly for the 2013-2014 fiscal year because of a $38.5 million increase in the property on the city’s tax roll.
The Paris City Council will be asked tonight to approve a resolution to receive and accept the appraisal roll as presented – reflecting a total certified market value for 2013 of $2,115,946,305, compared to $2,077,494,013 for 2012.
That rounds off to $2.1 billion both last year and this. But as the colorful late U.S. Sen. Everitt Dirksen was reported (perhaps fictionally) to have said, “A million here and a million there … pretty soon you’re talking about real money.”
The tax rate will be adjusted down slightly so that the city will realize exactly the same amount of revenue as in the 2012-2013 fiscal year, Anderson said.
Because of a desire by the council, this year as in past years, to lower the tax rate, Anderson said he has presented a barebones budget for the 2013-2014 fiscal year that will include no raises or improvements in pensions for present or past city employees.
Because of its austere nature, his proposed budget should not require more than one or two budget workshops for the council, Anderson said.
The last tax increase for the city was six years ago, when the rate went up from 59.229 cents to 56 cents per $100 assessed valuation because of a slight decrease in the value of property on the city tax roll.
When the tax rate is adjusted slightly either way to keep the city’s revenue from taxes unchanged, such a change – now as in 2007-2008 – is called the “effective tax rate” because the rate is basically unchanged.
Here’s how the City of Paris tax rate (per $100 assessed valuation) has changed over the past two decades:
By Charles Richards, eParisExtra