At Monday’s meeting, Audubon city officials held their public hearing on the maximum property tax levy for Fiscal Year (FY) 2024. City Administrator Joseph Foran says the city anticipates they will collect approximately $1.1 million in revenues from property owners under the currently proposed levy. According to Foran, the town will likely collect less than the original number due to a mistake made at the state level.
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Foran adds for FY24, the maximum property tax levy stands at $19.54 per $1,000 of assessed valuation, which is up from this current fiscal year.
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There are issues following the discovery of a state mistake in property tax rollbacks, and Foran says the city will potentially lose $114,000 because of the problem. FY24 begins on July 1, 2023, and ends on June 30, 2024. City budgets were originally due on March 31, 2023, but a bill is moving through the legislation, which would correct the error and move the deadline to April 30.