through local property taxes will ….
through local property taxes will be $1,917,749 which is up from $1,841,437 in 2023 and represents a 4.1% increase.
How the state determines shared revenue from the state sales taxes changed this year which saw the city’s base shared revenue amount climb by about $209,000.
City coordinator Joe Harris explained that amount is the new base and that it is projected to increase 2% more in 2025. A change in state law passed last June assigned a portion of the state sales tax to go toward shared revenue that is divided among municipalities and counties across the state.
In addition, the city is able to raise its local levy amount based on the amount of actual growth in the city over the past year. So far in 2023, there has been $2,219,300 in net new construction in the city, this is down from the nearly $3.1 million in new construction that took place in 2022 and $3.2 million in new construction in 2021. Over the past six years, the city has averaged about $2.3 million in new growth per year. According to state equalized value totals, the city of Medford increased in equalized value by about 12% from last year with a current equalized value of $417,153,600, up $44,970,300 from last year.
A public hearing was held prior to the start of the council meeting with no members of the public raising questions about the proposed budget.
The final tax rate for the city will be set later this fall as the levies from the school district, technical college district and county are all finalized. The tax bill property owners receive in December is a combination of all of these levies.
In other business, council members:
Received an update that the wastewater air diffusers came in on time despite the city being told they were back-ordered and to expect delays. Harris said it is noteworthy in today’s world given recent supply chain issues when items arrive when they are supposed to.
Received word that leaf pick-up will take place on October 23 to 25 with the city contracting with a company to vacuum up the leaves as in the past. Residents are asked to rake the leaves into the roadway prior to that Monday.
