SL Council sets preliminary budget, tax levy at $484,073
When the city adminstration and department heads presented the preliminary 2016 budget to the Silver Lake City Council in July, they were asked to scale back and try to keep the tax levy amount the same as 2015.
On Monday, Aug. 17, a pared down budget and tax levy of $474,073 was presented to the Council, a .45 percent increase from the 2015 tax levy of $471,970. The original property tax levy presented in July was $507,538.
Many of the adjustments were made in the cost-of-living increases that were at 8 percent in the original budget as well as contingency funds.
While the pared-down budget was exactly what the Council had asked for, it also made it a little nervous.
State statute requires a preliminary budget and levy to be set by Sept. 15. It can be decreased at any time, but cannot be increased once the preliminary budget has been adopted by the Council.
For more see the Aug. 19 print edition of The Chronicle.
