Council Votes Not to Increase Kirkwood Tax Rates

Despite decreased residential and commercial property values, the will not be increasing tax rates for Fiscal Year 2011.

Director of Finance John Adams said that calculations by his office determined an increase in taxes wasn't needed.

"(The city) has been very responsible with its funds the past few years," Adams said. "We've been able to prepare for certain economic difficulties, and, as a result, our residents won't need to bear a larger burden."

Tax rates connected with general obligation debt will actually decrease 1.2 cents, Adams said. Kirkwood currently only has one outstanding bond, which led to the decrease.

Kirkwood has not raised tax rates since 2009.

Mayor Art McDonnell said the city was "very proud" of its financial stability in these times.

"John (Adams) has done a great job of predicting our financial situation, of preparing us for the worst, and these rates reflect that," McDonnell said.

Council will reassess city taxes in approximately one year.