Dayton Reduces Property Tax Rate by 5% for First Time in 12 Years
Dayton city council approved a five-percent reduction in the city's property tax, the first rate decrease that the city has seen in a dozen years.ity in 12 years..
The decision changes from last year’s tax rate of $0.456 to $0.434 per $100 of property valuation. That means the tax bill on a $100,000 house in Dayton will be reduced by $22 a year, from $456 to $434.
It’s the first time the city has reduced its property tax rate since 2008.
“The city was able to reduce the overall tax rate this year because we have seen a steady increase in overall property values due to new real-estate developments and improvements to existing buildings in the city in recent years,” Mayor Ben Baker said. “As the Manhattan Harbour development has matured, we’ve seen two major apartment projects completed there this past year and several new phases of development have started just this fall.”
Despite reduced revenues because of COV-19 and rising costs for services and products, the city’s conservative fiscal approach and prudent spending efforts have allowed it to balance its budget without increasing taxes, Baker said.
“We’ve been able to maintain and improve the quality of life in our community without raising taxes and one way we’ve done that is by finding creative ways to fund important infrastructure projects in our city,” he said.
For instance, Dayton used primarily federal and state grant money to fund new sections of Riverfront Commons in the city. Riverfront Commons, a 11.5-mile walking, running, and biking trail that runs along the Ohio River from Ludlow in the east to Dayton in the west, is the signature project of Southbank Partners, the economic development organization for Northern Kentucky’s seven river cities.
“Riverfront Commons, along with our fabulous river views, are major factors helping to drive new development in our city,” Baker said. “It also provides a wonderful amenity to city residents and visitors, who in turn patronize our local businesses and learn about the charm of our city when come off the trail and into our community.”
The remaining sections of Riverfront Commons in Dayton are expected to be completed in the next two years. Phase I of the trail, named Ahren’s Way, is a one-half mile section constructed from Dayton’s western boundary with Bellevue near the Queen City Riverboat marina to an area between the Ohio River and the new homes on Manhattan Boulevard. This section was completed last year.
Phase II is currently in the design phase and construction work is expected to start next spring. The final phase of the project is expected to be constructed in 2022. When finished, the new river’s-edge trail will stretch for one-and-one-half miles, creating a three-mile loop when combined with the one-and-one-half mile upper trail, he said.
Overall, in six river cities, more than one-half of Riverfront Commons has been completed to date, with new sections going online different in these cities every year. When the Dayton completes its trail sections in 2022, it will become the first of these cities to have a fully completed trail section.