FAQs: Frequently Asked Questions
What options does the city have for revenue to pay for project costs?
The CIP "Pay-as-You-Go" Option:
Continue to budget approximately $200,000 per year, complete projects only as cash is on hand. Downsides: Further delays needed projects, more expensive approach in the long run because construction costs/inflation will increase at a higher rate than the municipal bond interest rate.
Increase the Mill Rate / Property Taxes:
The current FY 2018 Westwood city property tax mill levy is 21.307 mills. For Westwood, 1-mill generates about $25,000 per year.
Increase City Fees:
The current storm water utility fee in Westwood is $1.00 per month, for every 500 square feet of impervious surface area on a property. This fee structure currently generates approximately $96,000 per year, that can only be used for storm water improvements.
Special Retail Sales Tax:
Westwood's current local rate of 1.0% is the lowest municipal sales tax rates in Johnson County. In 2017 it generated about $430,000.