The City of Shenandoah announced it intends to adopt the no-new-revenue rate of $0.1477 per $100 of valuation during an Aug. 10 meeting.

The property tax rate change will be the first since 2018, and has remained at $0.1799.

Council member Mike McLeod and Shenandoah Finance Director Lisa Wasner said the change is an 18% decrease for area residents and businesses compared to the previous fiscal year.

Council member Jim Pollard added the city increased the homestead exemption for disabled residents and those over 65 from $75,000 to $100,000 on June 8.

The property tax rate is anticipated to be formally approved during the Aug. 24 city council meeting.