Council sets preliminary levy increase at 8.5%
A higher-than-expected health insurance quote led the Lake City City Council to approve a higher-than-expected preliminary property tax levy Monday, Sept. 14.
In July the council had targeted a budget that would raise the levy 7.5% based, in part, on the assumption that healthcare premiums would rise no more than 10%. In August the city found out that its estimated premium increase was about 16%.
As a result, the preliminary levy unanimously approved Monday was about $5.7 million, which is about 8.5% higher than last year.
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