Register Staff Report
BEREA — The Berea City Council on Tuesday evening will hear the second reading and vote on increasing property tax rates by .01 cents per $100 of assessed value. The ordinance also will levy a 0.025 percent franchise tax on all financial institutions within the city.
According to the ordinance, all tax bills paid before Nov. 30 will receive a 2-percent discount, while any bills paid after Dec. 31 will carry a penalty and be charged a 10-percent annual interest rate.
The council also will hear first reading of an ordinance increasing the salary of the mayor 50 percent. According to the ordinance, the mayor’s salary will increase from $12,000 to $18,000 annually beginning with the next mayoral term.
An update on the functions of the Madison County Airport will be provided to the council. The airport has requested additional financial support from Berea, but council members at previous meetings said they would like to be kept up-to-date on what happens at the airport before committing additional funds.
The council will meet at 6:30 p.m. in the council chambers of the Police and Municipal Building, 304 Chestnut Street.