NOTICE OF PROPERTY TAX INCREASE 

The Town of Lyerly has tentatively adopted a millage rate which will require an increase in property taxes by 6.0031 percent.

 

All concerned citizens are invited to the public hearing on this tax increase to be held at Lyerly City Hall on Thursday, August 26 at 6 p.m.

 Times and places of additional public hearings on this tax increase are at Lyerly City Hall on Monday, August 30 at 6:30 p.m. and Friday, September 3 at 6 p.m. 

This tentative increase will result in a millage rate of 9.5 mills, an increase of 0.538 mills. Without this tentative tax increase, the millage rate will be no more than 8.962 mills. The proposed tax increase for a home with a fair market value of $25,000 is approximately $0.84 and the proposed tax increase for non-homestead property with a fair market value of $50,000 is approximately $1.67.

 

This tentative increase is necessary for the Town of Lyerly to maintain the same level of revenue/operating income attributed to property taxes in 2010, as was received in 2009. The proposed tax increase will result in approximately $565 in additional revenue TOTAL from ALL property owners, compared to prior year.