The City of Independence completed a first reading of its proposed property tax rates for 2023-2024 fiscal year at a special meeting on Aug. 28. The city council has proposed the following property tax rates:
- Proposed real property rate: $0.22/$100 of property valuation
- Proposed personal property rate: $0.534/$100 of property valuation
Although these rates are identical to the city’s current tax rates, the city is required by law to have two readings before setting the tax rate every year. The council will perform a second reading and then cast a vote on the rates at a council meeting on Sept. 18 at 7 p.m. at the Independence City Building on Madison Pike.
Need a refresher on tax terminology and procedures? Read our tax explainer.