According to the City Clerk, from 2006 to 2007
the general fund levy rate for the City of Eagle fell 5 percent from
.0423524% to .0402533%. But talking about tax levy rates is only
telling half the story. The other half is assessed values. The City
clerk reports that assessed values increased 67 percent from
$1,720,540,418 to $2,882,087,154 during this same period.
As we all know property taxes are calculated by multiplying the levy
rate by the assessed value. This resulted in a 59 percent increase in
property taxes from $728,690 to $1,160,135.
The question for Eagle is what is going to happen to the levy rate
when assessed values drop by 25 percent? Will Mayor Bandy promise not
to increase the current levy rate? Or will it push the rate up so it
can continue the spend spree? Home equity evaporates while taxes stay
the same. Welcome to Eagle.
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