The Monticello City Council met last night in special session to set tax rates on Real Estate, Tangible
property as well as vehicles and watercraft.
After hearing a first reading Monday of an Ordinance setting the rates, a second reading was held Tuesday
night. Councilman Alan Vaughn noted after receiving the paperwork to figure the tax rate Monday, that
the city would take in 17 and a half percent more in real estate taxes revenue, mainly due to reassessments
by the PVA’s office, and sales of property in the past year. The figure given to the Council Monday was
13.7 cents per $100 value on real estate, however, with governments only being able to receive 4% more
in taxes without a public hearing or possible recall, the Council lowered the real estate tax to 11.7 cents
per $100 valuation.
That was the only item on the agenda at last nights meeting