The city council tonight (12/15/20) approved the 2021 Budget which includes a 3% levy increase. This aligns with the chamber's position on the city budget. The Chamber's position for the last few years is that the city (and county) keep any levy increase below the growth rate and preferably closer to the new growth rate.
Since the growth rate for the City of Owatonna this year is 8%, factoring in a record breaking new building year, most property taxes will actually go down. This is a function of the pie getting bigger. When new homes and businesses move into the community, the number of tax paying locations goes up. When this happens, the amount we each have to pay to cover the local government's budget gets smaller. Therefore, the city can grow their budget to cover inflationary costs and other costs associated with growth without adding a significant burden on taxpayers.
This places continued importance on growth of the city with new or expanding businesses and residences.
Our Chamber has approximately 530 members that invest their resources, employee volunteerism and confidence in the Owatonna Area Chamber of Commerce & Tourism and the business community.