Pocatello property tax levy will remain flat in 2016

Pocatello City Council adopted the city’s 2016 budget Thursday night, and, unlike as previously projected, the budget called for no increase in the city’s tax levy.

On Aug. 6, city officials were projecting a 0.14 percent tax increase, which they revised to a 1.6 percent tax increase the following week.

Now the city says it won’t have to raise taxes at all.

“We had some funds that had overbuilt reserves. A good level of reserves is three months. These funds were in excess of three months. So instead of taking more property tax, we’re gonna make them use some of those excess reserves and bring them back down to where our expectations as they should be,” said Joyce Stroschein, the city’s chief financial officer.

The city said it will collect $273,000 less in tax revenue in 2016 than in the previous year.

The budget takes effect Oct. 1.