City of Troy Finance & Economic Development Committee met Nov. 22.
Here are the minutes provided by the committee:
MEMBERS PRESENT: Nathan Henderson (Chair), Elizabeth Hellrung, Debbie Knoll
MEMBERS ABSENT: Tony Manley
OTHERS PRESENT: Alderman Dan Dawson, City Administrator Jay Keeven, City Engineer Tom Cissell, Public Works Director Rob Hancock, City Clerk Kim Thomas, Deputy Clerk Andrea Lambert
Chairman Henderson called the meeting to order at 6:06pm.
Motion by Alderman Hellrung to approve the Finance & Economic Development Committee minutes from the September 28, 2021 meeting as presented. Second by Alderman Knoll. Motion approved by unanimous voice vote of the committee members present.
Mr. Keeven informed the committee that the levy will increase this year by $80,802. Last year, the levy was $1,634,300. This year’s levy is $1,715,500. While this is a 4.94% raise in the overall levy, the increase is actually minimal when the EAV is factored in. Because the EAV in Troy has had steady increases in the past several years, tax rates have decreased (from 0.78 in 2014 to 0.62 in 2020). This year’s levy will be 0.69.
Motion: Recommend that the city council pass the 2021 tax levy as presented. Motion by Henderson. Second by Hellrung. Vote: Ayes – 3; Nays – 0.
Motion: To adjourn the meeting.
Motion by Henderson. Second by Knoll. Motion approved by unanimous voice vote of the committee members present. Meeting adjourned at 6:12 pm.
http://www.troyil.us/AgendaCenter/ViewFile/Minutes/_11222021-503
