Tax Information

DEED TRANSFER TAX

A Deed Transfer Tax is imposed upon the transfer of real estate or interest in real estate located within City limits at a rate of .50%.

EARNED INCOME TAX / DEDICATED EARNED INCOME TAX

A tax of 1.2% is imposed on:

1. City residents’ earned income, including salaries, wages, and other compensation
2. City resident’s net profits earned of businesses, professions, or other activities conducted in the City

Of the 1.2% rate, a half percent goes to the City while another half percent goes to the school district while the remaining 0.2% is considered dedicated earned income tax that also goes to the City.

EMERGENCY MUNICIPAL SERVICES TAX

An Emergency Municipal Services tax of $52 is imposed on all employees working within the City to support their use of services such as fire and police. 

REAL ESTATE TAX

For 2006, the City has set the millage for real estate taxes at 39.44 – a three mill increase from that used for the past twelve years.  For example, a resident owning a home with an assessed value of $20,000 would pay $788.80 in taxes, $60 more than last year
 
Taxes paid during April and May pay at a discount while those paid during June and July pay face value. After July, a ten percent (10%) penalty is imposed on the face value.