From Emma Loura / Manhattan Mercury:
The Riley County Commission approved notices of revenue-neutral rate for various county entities Thursday, as part of a process to comply with state law.
Most of these entities do not plan to exceed the revenue-neutral rate, but the county has to notify the state if they do.
The revenue-neutral rate is the tax rate for the current year tax year that will generate the same property tax revenue as levied the previous tax year using the current tax year’s assessed valuation.
“We have to do this for every entity that you are the governing body that levies the tax,” said Brittany Phillips, the budget and finance officer.
The only entity overseen by the county that plans to exceed the revenue neutral rate is Riley County Rural Fire District No. 1, whose proposed mill levy rate is 8.05 mills.
A mill is $1 in tax for every $1,000 in assessed, taxable value.
The Terra Heights benefit district, Valley Wood Operations benefit district, University Park water and Sewer District and Carson Sewer do not plan to exceed the revenue-neutral rate in 2025.
Phillips said she is still in the process of finalizing the budget before submitting it to the county clerk.
“I’m finalizing it to make sure every number is correct before I send it over,” Phillips said.
The Riley County commission unanimously approved and signed the indication of revenue neutral rate for these five entities.
