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City Council sets FY2025 levy capacity and tax rates – Fig City News

Summary by figcitynews.com
On November 18, the Newton City Council voted to shift more of Newton’s 2025 tax levy to the commercial/industrial/personal property owners to pay for the Mayor’s FY2025 budget approved last Spring. Since the amount of increase to last year’s budget allowed by law is 2.5%, the dollar amount is $10,521,712 added to $420,868,485 (last year’s levy limit), and including taxes on newly developed property (new growth) of $5,949,775, plus the debt excl…
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