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Silver Lake approves 3.7 percent levy increase

Submitted by admin on Wed, 12/19/2018 - 11:31am
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The Silver Lake City Council approved a $865,956.70 city budget for 2019, at its regular meeting Monday, Dec. 17. The amount is a 3.22 percent increase from 2018.
The tax levy also increased 3.7 percent to $519,429.70 for 2019.
In September, the council approved a preliminary levy increase of 5.7 percent. City staff has worked since then to decrease the overall budget.
In 2019, the city will receive 58 percent of its annual revenues ($496,263.70) from property taxes. Another 29 percent ($250,443) comes from grants and contributions, the majority of which is comprised of local government aid (LGA) from the state.
The remaining 13 percent of the revenues comes from operating grants and contributions ($23,000); a cable franchise fee ($7,500); fees, fines and contributions ($80,300); and other sources ($8,450).

(For the complete story, see the Dec. 19 print edition of The Chronicle.)