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Spencer Budget Talk

Spencer Budget Talk

Spencer, IA (KICD)–Spencer’s tax rate won’t be going up as much as was originally thought.
City manager Bob Fagen gave an overview of the proposed 2014-2015 budget at Monday night’s city council session.  It was originally thought that a 50 cent increase would be needed.

A tax rate of $11.99 per $1,000 of property valuation is up 16 cents from the current year.

With an increase in TIF valuation factored in the city will see 1.47 percent growth in their budget.

A public hearing on the 2014-2015 budget will be held at the next regular council meeting.
In other news the council approved a $150,000 contribution towards the Spencer Police and Communications Center relocation project.  The proceeds to pay for the project will be coming from the sale of the current Police Building at $100,000 and $50,000 in Police Reserves.  Clay County is also contributing $150,000 and the E911 Board will be responsible for the remaining $360,000 needed for the project which is now projected to be complete sometime in May.

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