§ 14.09. Limitation on ad valorem taxes.

Latest version.

The Council shall not adopt any millage rate which would result in more than a three (3) percent increase in total ad valorem taxes levied on the preliminary taxable value (adjusted to exclude ad valorem taxes generated from new construction added in the current year) over the previous year's ad valorem tax levy. The Council shall not fail to reduce the millage rate should such action be necessary to ensure that this limitation on the ad valorem tax levy takes affect.

(Ord. 92-1073-753, § 1 (Referendum of November 3, 1992))

                    
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