Council holds annual tax levy hearing

During a regular meeting Tuesday, the Nevada City Council addressed several routine items having to do with the collection and administration of proper taxes.

The first of these was to conduct a public hearing and passed on first reading a special ordinance setting the city's real and personal property tax rates for 2007 at $.20 per $100 assessed valuation for the Nevada Public Library, which is up from the current rate of $.1988 per $100 assessed valuation and the city's rate at $.6696 per $100 assessed valuation, up from the current rate of $.6548 per $100 assessed valuation. City manager Bill McGuire told the council that this is an overall increase of 1.6 cents per $100 assessed valuation and will increase the property tax on a house assessed at $100,000 by about $3 per year. According to information provided by the city the assessed value of taxable property in Nevada has dropped by about $1.3 million since 2006.

The council also:

* Passed on first reading a special ordinance approving a contract with Vernon County and the Vernon County Assessor to provide assessments of real and personal property inside the Nevada city limits.

* Passed on first reading a special ordinance approving a contract with Vernon County for processing of Nevada's property taxes.

* Passed on first reading a special ordinance approving a contract with Vernon County and the Vernon County Treasurer to collect current and delinquent city of Nevada property taxes, including Center and Washington Townships.