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LETTER to the DECATUR CITY COUNCIL <br /> Finance Department <br /> DATE: December 2,2024 <br /> TO: Honorable Mayor Moore Wolfe and City Council Members <br /> FROM: Tim Gleason, City Manager <br /> Ruby F. James, City Treasurer& Chief Financial Officer <br /> SUBJECT: Property Tax Levy for Accessed Value Year 2024 Pay Tax Year 2025 <br /> 6% Option <br /> The property tax levy including debt abatement presented in the ordinance for Council <br /> consideration is $28,004,443.26 in total and includes tax levy amounts for the Decatur <br /> Police Pension, Decatur Firefighter Pension, Decatur Public Library, Decatur Municipal <br /> Band, and debt service payments for all General Obligation Debt due in the fiscal year <br /> covered by the tax levy, and not scheduled for abatement. <br /> Abatement from the property tax levy is possible since the City has secured alternative <br /> revenue sources sufficient to pay certain General Obligation debt service amounts in the <br /> fiscal period 2025. <br /> For a 6% increase versus the prior year tax levy,the resulting net tax levy after abatement <br /> is $16,730,166.00: <br /> $ (whole) Tax levy Tax Abatement(s) Tax Levy <br /> After Abatement(s) <br /> 2024 Tax Levy 28,004,443.26 11,274,277.26 16,730,166.00 <br /> 2023 Tax Levy 31,236,437.02 15,453,147.02 15,783,290.00 <br /> 2024 vs. 2023 -10.35% -27.04% 6.0% <br />