The Kearney Board of Aldermen made significant strides in municipal finance during their meeting on September 15, 2025, approving a crucial ordinance that sets the property tax rates for the upcoming year. The ordinance, presented by Finance Director Stephanie Harris, establishes a total levy value of 0.5021 for 2025, which includes a general revenue rate of 0.4521 and a general obligation bond rate of 0.05.

This annual ordinance is essential for the city’s budget planning, as it reflects the final assessed evaluations received from Clay County. However, Harris noted that anticipated property tax revenues may decrease due to recent legislation affecting senior tax relief programs. The county estimates that Kearney could see a reduction of approximately $7,300 in property tax revenue growth related to senior properties, as these properties will be fixed at their last assessed value, limiting new revenue growth.

The board engaged in discussions about the implications of this legislation, emphasizing the need for accurate projections to inform budget decisions. Aldermen raised questions about the potential impact on municipal finances, highlighting the importance of understanding how these changes will affect future revenue.

In addition to the tax ordinance, the board also moved forward with other business, including the introduction of a new bill related to economic development, presented by Economic Development Director Carolyn Yotzick.

The unanimous approval of the tax levy ordinance marks a critical step in Kearney's financial planning for 2025, ensuring that the city can continue to fund essential services while navigating the complexities introduced by new tax relief measures. As the city prepares for the upcoming fiscal year, the board's decisions will play a pivotal role in shaping Kearney's economic landscape.