Serving proudly since 1873 as the beautiful Nebraska Panhandle's first newspaper

Council meeting set to establish tax request

Sidney’s City Council will hold a special meeting Wednesday at noon set its tax levies for the general, street department and debt services funds.

The special meeting is needed after council needed more information following its regular meeting last week due to uncertainty on bonding for debt payments coming due in December. The city has been working with bonding agencies to see what rates it might need to pay for the bonds.

Council will review two options as it works to provide for the city’s needs.

First of those is for a request of $1,580,016, which would result in a levy of 0.4803, or just more than $48 per $100,000 taxable valuation. Second would set the mil at 0.421 for a $1,310,465 tax request. Both scenarios reflect a bond indebtedness of $722,273, the amount City Clerk Geri Anthony said the city anticipates could be the annual bond payments.

Anthony said the city doesn’t know what the bond total might be yet, but the payments have been entered into the formula as a “best estimate” from the information available.

The meeting will be held in the council chambers at city hall.

 

Reader Comments(0)

 
 
Rendered 11/15/2024 20:09