08/29/05 Regular - Laserfiche WebLink

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Regular meeting August 29, 2005 Edward McCarthy, 7101 Princeton Ave – What are the rates what is the adjustment being made for the reassessment. He had not seen anything on the web site nor was he sent anything. Mr. Ollendorff stated the rollback rate for the General Fund was 57.3 cents for residential and 55.7 cents for commercial, 69.8 cents for personal property. The library rate for residential 25.0 cents for residential, 24.3 cents for commercial, 13.4 cents for personal property. Bonded Debt for the Municipal Bond Issue of last spring is 2.3 cents. Residents were informed last year that it would not be more than 5 cents, therefore less than projected. There are two additional rates that the Council sets which are for the two special business districts. U-City Loop Special Business district rates is 63.5 cents for residential, 78.5 cents for commercial. Parkview Garden Special Business District is 80cents for residential, 73.9 cents for commercial. Rates were figured on current assessed values. Mr. Ollendorff told Mr. McCarthy that he would give him a more detailed hard copy of rates from last year to present. Mayor Adams said that the residential rates for tax payers dropped 9.4 cents from last year. Library difference from last year is 4.1 cents less. With the new tax and the rollback the total reduction is 11.2 cents. Assessed value went up almost 100 million dollars. Mr. McCarthy asked about utility tax. Mr. Ollendorff said the utility tax is 9 percent, which has been the same for about 20 years. Mr. McCarthy’s said his calculation on his utility bills came up to a 10 percent rate. Mr. Ollendorff said because the utility company calculates the percentage on your gross receipt, it will then equate to 10 percent of your bill. Mr. Wagner explained that it is the choice of the utility to pass this tax, the 9 percent it gives University City, is past on to its customers. Mayor Adams declared the Public Hearing Closed at 7:05 p.m. AGENDA #4 – Comprehensive Plan Update 2005 Mr. Ollendorff recommended adoption as it had been prepared and approved by the Plan Commission and the Department of Planning and Development. Mr. Wagner wanted to compliment the Plan Commission on the tremendous number of hours expended to review the Comprehensive Plan. Mr. Wagner said that in this review they came up with 58 changes for recommendations or corrections. Because of the time that would be needed to make all the changes, Mr. Wagner moved to Table and was seconded by Ms. Colquitt. Page 5