Woodcreek to host hearing on proposed tax rate

The city of Woodcreek will hold a public hearing on September 8 to set the city’s new tax rate. While the proposed tax rate is lower than last year, when coupled with the increase in property value it would result in a slight increase in overall taxes collected.

“For the financial side of the city, and because the cost of everything is going up, we recommended that rate to make sure we can maintain the operation of the city at the least cost,” Woodcreek City Manager Brenton Lewis said.

The proposed tax rate is 20.71 cents per $100 of taxable property value. Last year’s rate was 22.31 cents per $100 of taxable value, but the taxable value for the average home within the Woodcreek City Limits increased more than 10% in the last year.

For the average home in Woodcreek, the overall increase would result in $13.46 more in taxes paid to the city, which is a 2.16% increase. This would raise a little more than $9,000 for the city compared to last year’s tax collections.

The city of Woodcreek will hold a public hearing on the proposed tax rate on September 8 at 2 p.m. at Camp Young Judaea. The council will vote on the tax rate on September 15. Now that the proposed rate has been set, the council can’t exceed that tax rate but does still have the opportunity to select a lower rate, according to Lewis.