PRESS RELEASE PUBLIC NOTICE OF PROPERTY TAX INCREASE AND FIVE YEAR HISTORY OF LEVY

CITY OF GRANTVILLE PRESS RELEASE

NOTICE OF PROPERTY TAX INCREASE

The City of Grantville has tentatively adopted a millage rate which will require an increase in property taxes by 5.86%.  All concerned citizens are invited to the public hearings on this tax increase to be held at the Glanton Municipal Complex, on Tuesday, August 2, 2022 at 9:00 a.m. and on Monday, August 8, 2022 at 6:30 p.m.

Time and place of an additional public hearing on this tax increase is at the Glanton Municipal Complex on Monday, August 22, 2022 at 6:30 p.m.

The tentative increase will result in a millage rate of 4.750 mills, an increase of .263 mills above the roll-back rate (4.487 mills).  A millage rate of 4.750 mills restores the City to its financial position in 2021, partially compensates for the increased cost of materials, supplies and labor while providing employee benefits that have been advocated by Council Members without impacting the General Fund.  Without this tentative tax increase, the millage rate will be no more than 4.487 mills.  The proposed tax increase for a home with a fair market value of $150,000 (with a $10,000 homestead exemption) is approximately $1.10 per month or $13.20 annually.  The proposed tax increase for nonhomestead property with a fair market value of $150,000 is approximately $1.32 per month or $15.84 annually.