The City of Belmond made a much anticipated move by increasing property taxes by five cents. The increase will take effect on July 1st. Along with the increase, the city also approved its 2017-18 fiscal year budget.
The budget passage included the increase which means that for every $1,000 of property value, the levy is $16.99. Homes at $100,000 will now pay $967.41 in city property taxes which is an increase of $2.63. Business owners with buildings of the same value will see an increase of $4.46 or $1,549.
The city could have called for an even higher rate hike, but the city was able to make some necessary cuts to the budget. Now the city will move $12.42 of the $16.99 levy into the city operations budget.