September 18, 2013 - The second reading of an ordinance setting Crestwood's 2013 tax rates is scheduled to be considered Tuesday night by the Board of Aldermen.
The Board of Aldermen will meet at 7 p.m. at the Government Center, 1 Detjen Drive.
The preliminary 2013 tax rates, per $100 of assessed valuation, are: residential, 25.6 cents; commercial, 40.1 cents; and personal property, 27.9 cents.
Crestwood's 2012 tax rates are: residential, 24.1 cents; commercial, 38.8 cents; and personal property, 27.9 cents.
At last week's Board of Aldermen meeting, board President Tim Trueblood of Ward 2 cast the sole no vote on the first reading of the ordinance setting the 2013 tax rates.
Trueblood told the Call he voted against the first reading because he made a promise when he first ran for office "to never vote for a tax increase that would not be voted on by the citizens of Crestwood."
As projected, the city would collect $441,382 from the proposed residential property tax rate, $254,370 from the proposed commercial property tax rate and $83,950 from the proposed personal property tax rate.
For 2013, the city's assessed valuation for residential and commercial property is projected to decrease, according to information provided by the city. Residential property decreased nearly $10 million from roughly $170 million to $160 million, while commercial property dropped from $64.2 million to $63.4 million.
Personal property assessed valuation is projected to increase by nearly $3 million. The 2012 assessed valuation was $27.8 million and is projected at nearly $30.1 million.
Assessed valuation for agriculture property is unchanged at $150.
"Residential real estate (assessed valuations) of $390,600 and commercial real estate (assessed valuations) of $1,296,000 are attributable to new construction and improvements and represent potential revenue of $1,000 and $5,197, respectively," according to the city's public hearing notice.