At the last session of the Huntsville City Council, Assistant to the City Manager Olivia Discon made a slide presentation on the local effects of Tax Exempt Property on the City of Huntsville.
She passed along the situation Huntsville is in with tax-exempt land compared to other similar cities.
She said, “This obviously is going to have a significant effect on our revenue sources. Several cities position themselves differently, have a diverse economic make up. Some depend more on property tax revenue than others.” In comparison to the other example cities projected property tax revenue, she said, “for us, we have a little over $11 million which is one of the lower numbers” on the list of other cities.
She said,”This is due for a variety of reasons. One because of the significant make up of tax exempt property but also because we have a significantly lower property tax rate at 3.475. And, we’re limited on how much we can go up on that. We also don’t want our taxpayers to cover the cost of that, make up, subsidize that amount of money that we’re missing off the tax rolls.”
She also spent time breaking down the other factors regarding the issue.
