The Columbia City Council voted 5-2 against raising the city’s property tax ceiling Monday night, with multiple council members expressing concerns about a higher rate causing public trust to be undermined.
Columbia City Manager Mike Matthes proposed raising the property tax ceiling to 43.29 cents during his annual budget message last month. He said then that increasing the property tax is one way the city could bolster its budget as it faces declining tax revenue despite a growing population.
The city’s current property tax rate is 41 cents per $100 of assessed value, and it’s been in place since 2002. The rate would have gone up to 43.29 cents if the council had voted to raise the tax ceiling. That would also have generated a projected $470,000 in additional revenue.
Matthes said the money would have been used to build a new fire station on the southwest side of Columbia.
Read more: Columbia Missourian