Tuesday night, Carthage City Council held a first reading to lower the tax levy on real estate.
Per state law, if a city’s property valuations rise, the tax levy must drop. The current tax levy is .7654% per $100 assessed value.
When passed, it will drop to .7614%.
The rate will take effect when Carthage residents pay their taxes at the end of this year.
“We try to make sure that we are very frugal with the citizens money. So, being able to reduce the levy is a good thing for our citizens,” explained councilman Alan Snow.
Snow says the new levy rate must be passed by September 1. The council is expected to pass it at their next meeting in two weeks.