The final levy hearing for local governments is set for 7 p.m. Tuesday as the city of Osceola holds a public hearing for the proposed levy tax rate.
Osceola’s tax levy rate for fiscal year 2025-26 is 14.77699 for regular city and 3.00375 for city ag land. The proposed rate for regular city for FY26-27 is 14.36612 with city ag land remaining the same.
Property taxes for FY26 for residential properties with actual/assessed values of $100,000/$110,000 is $701, and will increase just $3 to $704, a 0.43% increase. For commercial properties with actual/assessed values of $$300,000/$330,000, the proposed levy rate will see a 7.91% increase from $3,046 to $3,287.
Reasons for the tax increase include impact to properties vary based on specific valuation changes to each property. Budgetary increases are for wage adjustments, property insurance adjustments, the library book budget and tree removal projects.
The city of Murray will hold a public hearing for their proposed budget at 6 p.m. Wednesday, April 8 in Murray City Hall.