Belmond is in the midst of a road improvement project to improve Third Street. The project is being done in three phases with the hope of getting completed within the next couple of years. In order to keep the city from falling to far behind in paying for it, the city council has decided to raise the city’s property tax by twenty four cents per $1,000 of taxable value.
City Administrator Darrel Steven Carlyle reviewed what he disclosed to the council.
The city management of the debt allows the city to pay off an old debt so that it can begin a new one. According to Carlyle, the second half of the Third Street Improvement Project could be paid off in 2028.
In order to accomplish this, the city had to make an adjustment in the levied taxes and the reason was simple.
Carlyle wants to make sure residents clearly understand the reasoning behind the increase.
Carlyle stated that with the increase in city property tax, Belmond will remain on track with its budget for this year.