Taylor Lake Village City Council on Wednesday voted unanimously to adopt the city's FY2013 Budget.
The budget includes total expenditures in the General Fund of approximately $1,650,000, with revenues of approximately $1,700,000. The city carries no bonded indebtedness.
The city council voted to adopt a tax rate of $0.3486 per $100 valuation for 2012.
The tax rate is the same as in 2011, and is below the city's effective tax rate of $0.3602 per $100 valuation. The effective tax rate provides revenues equal to the previous fiscal year.
The city council voted to adopt an ordinance continuing the city's tax exemption of resident homesteads for residents who are disable or 65 years of age or older.
The city provides a $10,000 exemption on the value of homes for older and disabled residents.
The city council voted to adopt an ordinance providing for a penalty to defray the costs of collecting delinquent property taxes.
The city council issued a proclamation in recognition of October as “Domestic Violence Awareness Month”.
All items were approved. All votes were unanimous with council members Alan Koelemay and Tony Galt absent. Agenda