Wednesday, September 03, 2008

Gladstone Raises Personal Property Tax Levy to Maximum

In 2005 Gladstone voters approved a 39-cent property tax increase. That tax increase will begin showing up in your personal property tax bill this year.

The City Council has voted to set the city's 2008 tax levy at 93 cents per $100 of assessed valuation. So in other words if you buy a new car that cost $25,000 you are going to pay about 32.00 more in personal property taxes beginning this year.

This voter approved raise in taxes gave Gladstone leaders the authority to set the tax levy no higher than 93 cents per $100 of assessed valuation. Up until this year Gladstone council decided to stay at the existing tax rate of 54-cents per $100 of assessed valuation.

The reason for the decision to raise it is unexpected expenses which includes the May 2 tornado which cost the city more than $357,000 in payroll costs and repairs to city-owned facilities. In addition salt for road treatment went up $75,000 and fuel cost for city vehicles went up $71,000 over this past year.
Clicky Web Analytics