Shenandoah City Council approves FY 2024-25 budget, tax rate

Shenandoah City Council approved the tax rate and the fiscal year 2024-25 budget at its Aug. 28 meeting. While the tax rate is lower than the FY 2023-24 rate, it will generate more revenue than the previous year, according to city documents.

What to know

The approved tax rate is $0.1421 per $100 valuation compared to the FY 2023-24 rate of $0.1449 per $100 valuation, as previously reported by Community Impact.

The FY 2023-24 average taxable homestead value was $378,595, meaning an average city tax bill would be $548.58, according to information from the city. The FY 2024-25 average taxable homestead value is $402,176, which under the new tax rate means an average tax bill would be $571.49, or an increase of 4.18% from the previous year, according to city documents.

What else

The council members also received an update on the construction of the Shenandoah Veterans Memorial at Vision Park, which saw a groundbreaking take place in April. The monument will include stainless steel plaques with each soldier’s name, military branch, military occupational specialty and years of service, according to renderings shown at the meeting.