ANAHEIM : City to Decide On Property Tax Levy
Property owners in Anaheim will be levied an annual tax of about one-half percent per $100 cash value of their property this fiscal year if the City Council approves the increase at its meeting tonight.
If passed, the tax will be effective immediately and payments will be due with regular property taxes in November and April.
City officials say the tax is necessary to repay interest and payments on a $10-million bond that the city took out in 1986 to make storm drain improvements. The bond issue was approved by voters.
Property owners are taxed annually to service the debt at a decreasing rate, said Ron Rothschild, administrative services director.
Anaheim property owners would pay the increased tax for the next 15 years until the debt is repaid, if the City Council approves the ordinance.
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