At the final meeting in 2023, the Monmouth City Council adopted their property tax levy, explains Mayor Rod Davies:
“We were able to keep our levy low enough that we did not have to raise it above five percent, that requires a truth and taxation hearing or a lot of other public hearings. We were able to hold the line on our taxes. We feel that our rate should be pretty consistent with last years given the growth and equalized assess valuation, which is the amount of taxable property values that all the calculations are based on. We funded our two pensions above the minimum required amount. We are putting $1 million each into the police and fire pension and then we levied $400,000 of property taxes to pay on our debt service. All of the rest of our debt service is paid for by water and sewer revenues.”
For the complete Monmouth City Council update, click here.
