Hannibal’s New Tax Rate Expected to Remain Flat

The Hannibal City Council gives First Reading to a Bill that would leave the city property tax levy essentially unchanged for 2014.

Finance Director Doug Warren says the proposed rate is $1.1428 per $100 of assessed value, compared to $1.1414 for 2013. City Manager Jeff LaGarce says the new rate would equate to paying only about 40 cents more this year on a home valued at $150,000.

The total assessed value of property in the city of Hannibal adds up to nearly a billion dollars. That figure was shared by Finance Director Doug Warren at a public hearing on the tax issue, just prior to Tuesday’s city council session.

First Readings were also given to the following:

• A Bill adopting Dept. of Natural Resources Restrictive Deed Covenants related to flood buyout property at 623 South Main.
• Two Bills related to projects at the Hannibal Municipal Airport utilizing MoDOT Aviation funds: One would spend up to $55,352 for new hangar taxi lanes. The second would spend up to $62,738 for a new terminal area plan. Both contracts upon approval would be with the new airport engineer JViation. The projects require a 5% local match. Mayor Hark thanked George Walley of the Northeast Missouri Economic Development Council for providing the local funds.

The council approved the following Resolutions:

• A three-year Collective Bargaining Agreement with Firefighters Local 1211 related to working conditions and benefits.
• Authorizing a lease-purchase financing package with Commerce Bank for capital expenditures including a street sweeper and new police cars.
• Approval for the BPW to update the Safety Manual and Emergency Response Plan in order to reapply for the Reliable Public Power Award.