EGF Tax Levy
Doug Barrett | Sep 16, 2020 AT 8:10 am
Without discussion the East Grand Forks council approved a preliminary tax levy for 2021 capped at a five-percent increase. The levy will generate just over $5.7 million dollars for next year’s budget.
The city also plans to spend down its budget reserves to help balance next year’s books. At a previous meeting Mayor Steve Gander says he was O-K with using something around $250,000 in cash reserves.
The city will spend the next few months fine-tuning the budget. The amount of the levy can be lowered before final approval. The five-percent levy does not mean property taxes will climb that high as the formula is based on valuations.
A public hearing on the budget is set for December 1st.