Vote YES on city’s level property tax renewal
The Chamber encourages members to vote YES on Tuesday, November 7, to continue the City of Springfield’s Level Property Tax (LPT). Voting YES renews the LPT – it is NOT AN INCREASE in any tax rate. Springfield voters will see the issue as “Question 1” on the ballot. To see the full ballot language, click here.
The LPT generates about $8.5 million per year. Springfield City Council has legislated commitments to funding specific, high-priority public safety improvements and projects, if the LPT is renewed. For the Fire Department, funds would be used for two new fire stations in underserved areas of the City. Funds would also be used to replace needed equipment such as fire engines and lifecycle replacement of police vehicles. If the measure is approved, LPT revenue would also be used for stormwater improvements and other maintenance to City facilities. For a more complete list of proposed projects, click here. For a list of previously funded, “completed as promised” LPT projects, click here.
The Citizens’ Sales Tax Oversight Committee, established in 2010, will provide oversight for the LPT going forward.
How much is the LPT?
For residential property owners, the Level Property Tax is 27 cents per $100 of assessed value. Residential properties are assessed at 19 percent of the market value. For commercial property owners, the tax is still 27 cents per $100 of assessed value. However, commercial properties are assessed at 32 percent of the market value.
For additional information, click here.
Also on the ballot
Greene County also has a sales tax proposal on the November 7 ballot – for more information, click here.