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Silver Lake City Council holds tax hearing, OKs 1.38% levy increase

Submitted by admin on Wed, 12/28/2016 - 11:21am

The Silver Lake City Council held its annual truth-in-taxation hearing on Monday, Dec. 19.
Representatives from Cedar Crest, a senior living facility, attended the hearing to express concern over its increasing city taxes.
They informed the council that Cedar Crest’s taxes had increased over 10 percent in the last year to nearly $57,000, with $37,000 of that amount going to the city of Silver Lake.
The city’s portion increased nearly $5,000 for 2017.
City Clerk Kerry Venier explained that 2017 is the first year of the homestead exclusion, passed by the state Legislature a few years ago. The homestead exclusion takes a property value and reduces the amount that is used to calculate property taxes for properties that are homesteaded.
 

Read the full story in the Dec. 28 edition of The McLeod County Chronicle.