City taxes may drop a bit next year
The good news for New Hampton property owners is this: If their properties didn’t see their assessed valuation increase in the last year, they’re going to have a lower city property tax bill in 2020-21.
New Hampton’s Finance Committee that includes City Council members Scott Perkins, Cory McDonald and Matt Kuhn met last Monday night to discuss the budget and tax levy for the fiscal year that begins on July 1.
Perkins, the longtime chair of the committee, said the budget is extremely tight, and he recommended several budget requests be cut. He said when he first looked at the budget requests from city department heads, he estimated that the city would be about $45,000 in the red next year, and although New Hampton has a healthy fund reserve, it also must be mindful to keep enough cash reserves on hand to pay bills at the start of the fiscal year.
For more on this story see the January 28 Tribune.