At Monday’s Lake City Council meeting, officials passed a resolution approving the Fiscal Year (FY) 2024 maximum property tax dollars. According to Administrator Jacob Matthews, the city will potentially be collecting over $800,000 in FY24 from property taxes with a rate of $21.98787 per $1,000 of taxable assessed valuations. FY24’s levy is up $0.6342 from the current fiscal year, which was set at $21.35367. The city is looking to bring in roughly $2.5 million in total revenue in FY24, with expenditures budgeted at approximately $2.4 million. The budget is not finalized yet, with a public hearing needing to take place, which will be during their Monday, April 17 meeting. Any resident or taxpayer in Lake City can share their thoughts on the budget during that hearing. City budget deadlines were pushed back following an error made by the state in property rollbacks. Budgets are due to county auditors by April 30.
