Approved 2023 Budget
BudgetAI Summary
The 2023 Approved Budget documents the City's General Fund revenues across multiple tax categories. Real estate taxes are projected at $5,568,719 for current-year collections plus $321,000 from prior-year collections, totaling $6,229,719 with no changes from the proposed budget. Earned income tax revenue is budgeted at $2,050,000 (1% tax collected by Berkheimer Services, split 0.5% to the City), real estate transfer tax at $400,000 (representing the City's 0.5% share of a 2.0% transfer tax), and local service tax at $300,000. Resident taxes and per capita taxes, previously levied under ordinances from 1933 and 1949, were removed as revenue sources in 2022. The budget was approved by Council on 11/17/2022 with no amendments to the proposed revenue figures.
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