The City of Milford will keep its tax levy flat at 48.2 cents for the 2023-24 fiscal year, with a 0% increase.
However, the city’s tax ask will increase 17% to $726,235, based on its proposed budget.
The change is the result of increased property valuations for 2023-24.
Valuation on property within the city limits increased from $128,968,021 to $150,654,932, therefore the same levy rate will generate more revenue for the city budget.
The total proposed operating budget for the coming year is $10,049,897, 1% lower than last year, with an additional $2.5 million in cash reserves.
The council held budget worknights on July 24 and 25 to discuss budget needs for the coming year.
Those discussions included a general insurance increase of 9%, a health insurance increase of 12% and a general salary increase of 5% for employees.
Because its tax request is more than the allowable 2% increase over last year, the city is required by law to participate in a countywide joint public tax hearing, set for 7 p.m. on Wednesday, Sept. 20, at the Seward Civic Center, 616 Bradford St. in Seward.
The city will hold its own budget and tax request hearings beginning at 7 p.m. on Thursday, Sept. 21, at Milford City Hall, 401 First St. in Milford.
The public will have the opportunity to speak and ask questions during both the Sept. 20 and Sept. 21 hearings.
