The tax rate increased from $0.1796 per $100 of valuation in FY 2022-23 to $0.1917 per $100 of valuation for FY 2023-24.
The new budget will raise $361,669 more in revenue from property taxes than last year’s budget—a 13.96% year-over-year increase. New properties added to Rollingwood’s tax roll will add $90,893 to this year’s property tax revenue, officials said.
The why
A large portion of Rollingwood’s tax hike will go toward debt service for two city projects that were voter approved in November 2022, City Administer Ashley Wayman said. The projects are aimed at improving water systems and making upgrades to City Hall.
The breakdown
Rollingwood’s FY 2023-24 budget prioritizes staff retention, road improvements and quality equipment for the police department through the following:
- 4% cost of living increase for city staff
- $200,000 planned for street repairs
- New digital ticket writers, body cameras and radios for police officers
“This year, we started off the budget cycle with a goal to decrease expenditures in each department by 5%,” Wayman said in an email. “After the bigger ticket items were approved and added to the budget, some of those departments met or exceeded what they budgeted for last year, but we felt like it was prudent to show that, on the day-to-day activities, staff is making a commitment to continually evaluating their spending, identifying inefficiencies and prioritizing essential services. Year-over-year reductions help ensure the long-term sustainability of public services, and that showed in our budget approach this year.”
