Besides the fact that the county and school district are going opt-out crazy (even though the SFSD has a $11 Billion in valuations and we are looking at another record year in building permits) the city council gets to vote on property tax increases at the end of September (historically). The state allows between 2%-3%. Last year the council voted 7-1 to increase it by 2.1% (Stehly was the lone NO vote).
Yesterday during the city council meeting, councilor Pat Starr pointed out that while the city only needs a 25% reserve fund they have around 38%.
There really is NO viable reason the city needs to vote for this increase. It will be interesting to see how the city council votes on this increase since I can’t remember the last time it has ever been voted down. I think it has passed every single year for at least the last decade.
We all know that the RS5 rarely votes for the citizens, so it will be fun to listen to their reasons why they need to vote for this unneeded increase. I have often argued with record growth in our city (and valuations) we shouldn’t have to increase the percentage the city taxes.
If they are even entertaining the idea of raising city property taxes, then why, or how, can we afford to commit $1.5 million towards the State Theatre restoration?….#GetDennyToPayYourPropertyTaxes………..#ThatsTheTicket…..(What? To the Events Center?)
I agree with you, they do not need to be raised. The increase will pass 5-3 and the Kiley clan won’t even blink an eye. It’s very disheartening.
In previous years, the Council’s vote regarding property taxes has taken place in July separate from their vote on the general budget.
Has this timeline changed?
Yes, last year they voted on it in September
Why is there 38% sitting in reserves?
Hey, Shawn Pritchett, why aren’t you talking to the Council about spending this down!?
“Why is there 38% sitting in reserves?”
Probably because they want to maintain or improve their bond rating. Wasn’t it Truman who said something about how banks only want to borrow you money after you can prove you don’t need it?
It was reported that the city was now pulling in good revenue from the new internet sales tax ruling. Where is that money going?
I have lived in numerous cities throughout several states and Sioux Falls is the only place I have lived where property tax assessments are done every year. Rates always jump significantly.
We are one of only six states in the nation who have no state income tax.
I, too, have lived in other states where there was a state income tax. A much more equitable system.
Here, in South Dakota, we choose to finance our government with high property taxes and sales tax.
The two taxes that hit lower-income residents the hardest!
South Dakota’s largest city, Sioux Falls, is a glaring example of this. A city of ‘Have(s)’ and ‘Have Not(s)’.
^^ You act as though this is the only state in the Nation without a state income tax (and sure isnt the only one I have lived in). Come on, guy. This is NOT the reason why the city is constantly raising property taxes. Dont even try pulling that one over on me or even yourself.