Two dollars. That's the increase the average valued home in Woodbury is likely to see on its property taxes in 2008 should the Woodbury City Council approve the proposed budget at its Sept. 12 meeting.
The council held a workshop meeting last Wednesday to give final direction to city staff regarding the city's proposed 2008 budget and tax levy. After hearing some last minute feedback from citizens and department heads, council members gave an informal approval for city administrator Clint Gridley and the city's finance department to move forward with a proposed budget that will amount to a small decrease in the total tax rate (-0.3 percent) from 2007.
The total estimated tax levy is proposed to be $25,716,660, which amounts to nearly a $2 million-dollar increase from the total levy in 2007. The increase in the total tax levy is similar to increases in prior years dating back to 2006.
The $2 increase would apply to the average value home in Woodbury worth $304,000 in 2007.
To view the city's full 2008 budget report go to: www.ci.woodbury.mn.us/govt/propbudget08.html
For the complete version of this story, read the Sept. 5 print edition of the Woodbury Bulletin.