By Audrey Posten, North Iowa Times Editor
The Marquette council approved the city’s fiscal year 2016 budget of $2,612,459 at its Feb. 11 meeting.
The estimated local tax levy rate per $1,000 valuation on regular property is $6.24, up 35 cents from this year, meaning a $100,000 home will be assessed $624 for the city’s share of property taxes.
The fiscal year 2016 budget, which will run from July 1, 2015 to June 30, 2016, is down from the estimated end balance for the current fiscal year, which is projected at $3,156,088. At $1,295,000, capital projects are the city’s biggest expenditure.