Although the New Haven City Council gave final approval to the city’s $12.3 million budget Tuesday, things could change after new assessed valuation numbers are released.
Those numbers are not expected to be finalized by the county for an additional 30 days, said Greg Guerrettaz, the city’s financial consultant.
If assessed values stay the same, New Haven’s tax rate will remain the same. But preliminary figures show that assessed values are down across the state and in Allen County. If New Haven’s assessed value drops, its tax rate will go up, Guerrettaz said.
“The final approval for (the city) is tonight, but the final approval from the state is who-knows-when,” he said.
After the final audit from the state is received, the council will have 30 days to review the budget, he said.
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