Old Town Business – Business Improvement Service District Tax

The Old Town Business – Business Improvement Service District will be funded by a $0.10 service district tax that will be levied in addition to the real property tax (current rate of $1.11, with service district tax a total of $1.21, representing a 9% increase in the total tax rate) on parcels of real property within the OTB-BISD.

For example, a parcel with a taxable value of $700,000 that currently pays $7,770 in annual property taxes would be billed an additional $700 for a new total of $8,470.

Parcels of real property that are either exempt from real property taxes or strictly residential in use, as determined by the City on an annual basis, shall not be billed the annual OTB-BISD tax.