The City of Trenton will hold a public hearing regarding property tax rates later this month. The hearing will be at Trenton City Hall on August 22nd at 7 p.m.
This year’s proposed rate for general purposes is $1.0017. For the Park Department, it is $.1843. The combined total is $1.186 per $100 of assessed valuation. That is $.0238 higher than the prior tax year.
The assessed valuation for the City of Trenton for this year totals approximately $59,596,980, which is an increase of $2,514,148 from 2021. This year’s assessed valuation includes $38,661,505 for real estate, $16,958,415 for personal property, and $3,977,060 for railroad and utilities.
New construction for the city accounts for $2,775,379 of the assessed valuation. Revenue derived directly from new construction at the proposed tax rate is estimated at $32,915.99.
Budgeted revenues generated by the proposed tax levies are $510,000 for the General Fund for the City of Trenton and $92,000 for the Park Department.
