City Manager Ryan McCrady says they are anticipating a 2% decrease in value.
He says there are a few things that need to happen so property value goes back up.
“What makes property values go up is the sale of homes in neighborhoods that are of increased value. That happens through a lot of things, people being able to access a mortgage and receive financing. The city can also do a couple of things such as keeping up on the appearance of the neighborhoods and also making sure the codes are enforced throughout the city.”
The council voted once again to not raise property taxes for the third straight year.
The city will be paying its roughly $5 million in bills by doing a number of things such as taking money out of the surplus in the operational fund as well as finding programs, or people, operating out of the local government and cutting them.
McCrady says that finding government operations to cut is a difficult task because they have cut down on their operations by 15% over the past 3 years.
Mayor Mike McElroy echoed his City Manager’s opinion; saying that the city cannot keep going back to the well and using the money that have saved and that property taxes will have to eventually go up.