The gist
Hollywood Park city treasurer Todd Kounse proposed a maximum tax rate of $0.47805 per $100 valuation. This would increase taxes from $2,474 to $2,576, which is an annual increase of $101 per average household.
“The tax on the average homestead went from $2,474 to $2,576 if we selected the maximum tax rate, that'd be an increase of $101. Last year, we kept the tax rate the same, and our increase in our tax levy was over $200,000,” Kounse said. “This year, the valuations have just not gone up as much as the previous years. If we were to keep the tax rate the same as 2024, our increase in tax revenues would be about $36,000."
The city has maintained a tax rate of $0.4617 per $100 valuation for two years. The current tax rate garnered $3.6 million in revenue for the city in fiscal year 2024-25. Kounse said the proposed tax rate would net the city $3.818 million. Kounse also noted that the average homestead value only increased by 0.5%, which is why the revenue impact is lower than last year’s roughly $200,000 increase.
Stay tuned
Hollywood Park City Council will hold a public hearing at 5:30 p.m. Sept. 16 before voting during the following City Council meeting.
