The city of Trenton will hold its public tax rate hearing on Monday, Aug. 12 as part of the regular city council meeting.
The hearing will be at 7 p.m. at city hall. The city is proposing to set its tax rate at $1.113 on the $100 assessed valuation, which is estimated to raise approximately $586,000 in tax revenues for the general fund and park fund. The total tax to be received is based on an assessed valuation of $57,111,860, which is down $738,106 from a year ago.
Of the revenue total, the city is anticipated to receive $495,000 based on a tax of 94.01 cents per $100 assessed valuation while the park department will receive $91,000 from a tax rate of 17.30 cents. Revenue derived directly from new construction at the proposed tax rate is $16,785.10 (based on new construction in 2019 of $1,507,960).
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