City budget requires no more property taxes

NORFOLK - The good news is that the property tax levy needed to fund the budget for the city of Norfolk is going down slightly. The bad news is that the city property tax asking makes up only about 10 percent of your total property tax bill.  At a hearing Tuesday night on the budget, City Finance Officer Randy Gates explained that nearly 60 percent of a Norfolk resident’s property tax dollar goes to the school district and about 20 percent goes to Madison County. Other taxing entities – including the Lower Elkhorn NRD and Northeast Community College – make up the last 10 percent of the property tax bite.  Gates spent about 30 minutes reviewing the budget for Council members. He said capital expenditures will be about the same as this year -- $19.5 million – and about half of that is for utility projects.  Gates says a little more than 40 percent of the city’s revenue comes from sales tax, 25 percent from lease payments from NPPD and only about eight percent from property taxes.  The Council gave the budget unanimous approval.