By Anne Scheck
MAXIMUM TAX PASSED AND NEW CITY BUDGET
The maximum allowable ad valorem tax for Independence – just under 4.6% per $1,000 dollars of a property’s county-assessed value – was approved by the Independence City Council at a special meeting on the budget last night. The tax is likely to mean the city has the highest municipal taxation of any in the county, with the exception of West Salem.
In another action, the councilors approved a “deficit” budget for the Urban Renewal District, where the Independence Landing project is underway. The city, which funded streets and site preparation of several million dollars, is expected to remain in a deficit, even after the hotel is completed.
City Councilor Marilyn Morton inquired how long it would take before the Urban Renewal District moved into the black. “We really need to dig into that,” said City Manager Tom Pessemier. However, he predicted that there is a strong possibility the urban-renewal deficit would be eliminated two years from now, in the fiscal year beginning in 2021.
MAXIMUM TAX PASSED AND NEW CITY BUDGET
The maximum allowable ad valorem tax for Independence – just under 4.6% per $1,000 dollars of a property’s county-assessed value – was approved by the Independence City Council at a special meeting on the budget last night. The tax is likely to mean the city has the highest municipal taxation of any in the county, with the exception of West Salem.
In another action, the councilors approved a “deficit” budget for the Urban Renewal District, where the Independence Landing project is underway. The city, which funded streets and site preparation of several million dollars, is expected to remain in a deficit, even after the hotel is completed.
City Councilor Marilyn Morton inquired how long it would take before the Urban Renewal District moved into the black. “We really need to dig into that,” said City Manager Tom Pessemier. However, he predicted that there is a strong possibility the urban-renewal deficit would be eliminated two years from now, in the fiscal year beginning in 2021.
UPDATE: On-boarding of New Audit Consultant
At an earlier meeting, the council approved hiring an outside consultant to provide a review of the budget package every year from now. This annual addition for what was termed “a second set of eyes” is part of a “plan of action” to address a reporting “deficiency” identified by the Secretary of State’s office this spring in the city’s original 2019-2020 budget. The original estimate of the omission, $6 million, has been corrected, according to Gloria Butsch, the city’s finance director.
At an earlier meeting, the council approved hiring an outside consultant to provide a review of the budget package every year from now. This annual addition for what was termed “a second set of eyes” is part of a “plan of action” to address a reporting “deficiency” identified by the Secretary of State’s office this spring in the city’s original 2019-2020 budget. The original estimate of the omission, $6 million, has been corrected, according to Gloria Butsch, the city’s finance director.
IN BRIEF
Following passage of the ad valorem tax Wednesday night, the Independence City Council approved taxes for repayment of general-obligation (GO) bond funding to the city. Trammart News will take a closer look at the progress the city is making on its bond debt, including these general obligation bonds, in the August issue of The Independent. General obligation bonds serve as one way for local governments to borrow money to fund infrastructure projects, ranging from street repairs to park equipment
Following passage of the ad valorem tax Wednesday night, the Independence City Council approved taxes for repayment of general-obligation (GO) bond funding to the city. Trammart News will take a closer look at the progress the city is making on its bond debt, including these general obligation bonds, in the August issue of The Independent. General obligation bonds serve as one way for local governments to borrow money to fund infrastructure projects, ranging from street repairs to park equipment
COMING UP
Independence State Airport will host a Memorial Day tribute to pilots who have died in the past year, beginning with a fly-over by local aviators shortly before 11 am. Rep. Paul Evans will issue the public welcome, followed by a brief program honoring both military and civilian aviators. A $5 hot-dog lunch will be served by the Boy Scouts as part of this annual event, which has been held for more than 20 years.
Independence State Airport will host a Memorial Day tribute to pilots who have died in the past year, beginning with a fly-over by local aviators shortly before 11 am. Rep. Paul Evans will issue the public welcome, followed by a brief program honoring both military and civilian aviators. A $5 hot-dog lunch will be served by the Boy Scouts as part of this annual event, which has been held for more than 20 years.
FINAL NOTE
Brew Coffee and Tap House, at 211 S Main Street downtown, now has a second location in West Salem, tentatively named the same as the one in Independence – but so far known as the “underground” location for its basement coffeehouse-pub, which is across from Annette’s Restaurant.
Brew Coffee and Tap House, at 211 S Main Street downtown, now has a second location in West Salem, tentatively named the same as the one in Independence – but so far known as the “underground” location for its basement coffeehouse-pub, which is across from Annette’s Restaurant.
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