NOTICE OF PROPOSED TAX INCREASE
The Municipality of NORTH HILLS proposes to increase property tax levies.
1. Appraisal/Assessment Increase: Total assessed value of property, excluding additional assessments due to new or improved property, exceeds last year’s total assessed value of property by 2.24% percent.
2. Lowered Rate necessary to Offset Increased Assessment: The tax rate which would levy the same amount of property tax as last year, when multiplied by the new total assessed value or property with the exclusions mentioned above, per $100 of assessed value of property with the exclusions mentioned above, per $100 of assessed value on each class of property, would be:
Lowered Tax Rates
Class I 9.85 cents
Class II 19.70 cents
Class III 39.40 cents
Class IV 39.40 cents
3. Effective Rate Increases: The Municipality of NORTH HILLS proposes to adopt a tax rate per $100 of assessed value on each class of property as follows:
Proposed Effective Tax Percentage of
Rate Rate Increase Increase
Class I 10.70 cents 0.85 cents 9%
Class II 21.40 cents 1.70 cents 9%
Class III 42.80 cents 3.40 cents 9%
Class IV 42.80 cents 3.40 cents 9%
Individual property taxes may, however, increase at a percentage greater than or less than the above percentage.
4. Revenue produced last year $85,121
5. Revenue projected under the effective rate increase $11,943
6. Revenue projected from new property or improvements: $55,095.
7. General areas in Which revenue is to be allocated: Parks & Recreation
A public hearing on the increases will be held on March 18, 2021 @ 7pm, at Town Picnic Shelter. The decision regarding the increase will be made on March 18, 2021 @ 7pm at Town Picnic Shelter.
Mar 8