Residential
property owners will pay $12.30 per $1,000 of assessed value in 2010, a
5.1 percent increase from $11.71 last year. Commercial property owners
will pay 6.2 percent more with a rate increase to $20.44 per $1,000 of
assessed value, $1.19 more than in 2009.

Acting Chief Assessor
Marc Levye presented the Board of Assessors' recommendations, noting
the rate is being kept at the minimum allowed by the state.

"As
much as we'd like to keep that residential tax rate as lo was possible,
we're limited as to what we can and can't do," Levye said.

The increase is expected to generate $96,510,127 in revenue, $4 million more than in 200.

The
Board voted to maintain a 30 percent tax exemption for owner-occupied
residences. Levye said 8,979 exemptions have been granted.

Ward 4 Alderman Walter Pero said he was satisfied with the city's efforts at sheltering residents from rate increases.

"We'll take the hit, you just keep it to a minimum," Pero told Levye.

Thursday's presentation was the first in more than two decades without Chief Assessor Dick Brescia, who died in July.