Originally published November 5, 2013 at 12:58p.m., updated November 5, 2013 at 02:03p.m.
WALLA WALLA — City Council will consider increasing property taxes at its Wednesday meeting.
The city’s finance committee is recommending a 1 percent increase allowed by the state and another 0.73 percent increase resulting from new construction.
If approved, city coffers would net an additional $87,329 in taxes, more if property values increase from the previous year.
The city’s proposed portion for property taxes for 2014 — not including taxes collected for voter-approved bonds like the police station — is estimated at $5,134,877. Property owners would see an increase to their rate of 3 cents per $1,000 of assessed property value — from $2.52 to $2.55 per $1,000.
The city’s finance committee did not recommend using any of the current banked levy capacity of $166,201. Last year, the City Council approved using about $150,000 in banked levy capacity from 2007.
Banked levy capacity accumulates when a city declines to take its allowed state increase in property taxes, leaving the option of tapping the amount in subsequent years.
The total for all taxing agencies in the county this year will amount to $65,710,744.
According to the Walla Walla County Assessor’s Office, the city of Walla Walla will collect roughly 11.9 percent or $7,875,638 of those taxes, which includes voter-approved bond taxes.
The single largest recipient of property taxes are schools, which will receive roughly 56.65 percent of property taxes collected or $37,228,473.
The following chart is provided by the Walla Walla County Assessor’s Office and shows a breakdown of who gets what portion of the taxes:
This story was modified on Nov. 5 at 2:03 p.m. to reflect the following correction:
Due to an editing error, the original article misstaed the amount of property tax the county will collect this year. It is $65,710,744.