The City of Trenton will hold a tax rate hearing later this month. The public hearing will take place at Trenton City Hall on August 28th at 7 pm.
The proposed tax rate is $1.1886 per $100 of assessed valuation. This rate is $0.0026 higher than the previous tax year. The proposed rate consists of $1 for general purposes and $.1886 for parks.
The assessed valuation for the City of Trenton for the current year is $58,310,077. This amount represents a decrease of $1,286,903 from 2022. This year’s assessed valuation includes $37,836,965 for real estate, $15,940,063 for personal property, and $4,533,049 for railroad and utilities.
New construction is valued at $75,570. The revenue expected from new construction at the proposed tax rate is estimated to be $898.22.
The budgeted revenues generated by the proposed tax rate are projected to be $600,000 for general purposes and $95,000 for parks.
