Evarts property tax unchanged
The city of Evarts passed an ordinance during a special-called meeting on Thursday setting the city’s tax rates for real and tangible property.
According to Evarts City Clerk Kristi Lamb, the council voted to leave the city’s property tax rates unchanged, therefore the rates will remain the same as last year.
According to the city’s ordinance levying the annual real property and tangible tax, the state requires each city to annually levy an ad velorum tax for city purposes. All taxes must be levied by ordinance, and the city’s legislative body must provide for sufficient revenue to operate the city government.
The council set a rate of .415 cents per $100 of assessed value for real property. The rate for tangible property was set at the same rate of .415 cents per $100 of assessed value.
The ordinance also sets the effective date for the rates.
“This ordinance applies to the 2018 calendar year tax assessment and all receipts shall be used for city purposes and accounted for in the 2019 fiscal year and subsequent fiscal years in reference to delinquent collections,” states the ordinance.
According to financial-dictionary.thefreedictionary.com, the tax is a “tax on local real estate that is calculated according to the fair market value of the real estate. That is, a real property tax is assessed as a percentage of the amount for which the owner would be able to sell the property in the current market.”