The City of Independence lowered their its tax rates for the second year in a row.
At a special meeting last Monday night, city council took the first step to set the tax rate this year for $0.220 per $100 of assessed value for property taxes.
“Real estate taxes were kept the same for five years,” said City Administrative Officer Chris Moriconi. “They were substantially lowered last year and again this year.”
The first reading of the ordinance was held Monday night but the second reading won’t be held until the second Monday in September due to Labor Day holiday on the first Monday.
The personal property tax rate is being set at $0.534 per $100 of assessed value. This is also a reduction from $0.595 in 2021, $0.634 in 2020, and $0.642 in 2016, 2017, 2018, and 2019.
The property tax rate was $0.271 per $100 of assessed value for five years, from 2016 to 2019, then reduced to $.244, then this year to $.220 per $100 of assessed value.
