A loss of almost $900,000 in revenue from the state’s red light camera pilot program is among the biggest hits to the 2015 municipal budget, which projects a 3.7-percent tax hike.
The average property within an expanded, citywide Special Improvement District (SID) would pay about $1,437 in taxes to the SID, but the average among industrial properties and apartments would be nearly twice as high as commercial properties.
Mayor Samson Steinman delivered the annual State of the City address Friday night, announcing a few new events for 2015 while providing updates on items announced last year amid a smattering of redevelopment-related topics.
A St. Georges Avenue office building won a tax appeal judgment last year that resulted in a 64-percent refund of its almost $47,000 property tax bill for the 2010 tax year.