Cheney council gets first look at budget
Flattened assessed property valuation and reduction in sales tax from construction projects should tighten general fund expenses in 2014
Cheney’s City Council began its 2014 budget deliberations Tuesday night with a look at general fund revenues and expenses and the departments funded through property taxes and other fees.
The city’s property tax assessed valuation is expected to reach $510,239,897 next year, reflecting a relatively flat trend the past five years after a huge jump between 2009-2010 that increased valuations from the mid-$400 million mark to just over $500 million. The general property tax levy in 2014 is a proposed $1,206,497, reflecting a rate of $2.37 per $1,000 of assessed property value.