What is the Pension Obligation Tax on my property tax bill?

The Pension Obligation tax (Fund # 109072) is the restricted use of funds tax established in the 1960’s, which is collected to pay for the public employees’ retirement system with current tax rate of $.0910 per $100 of assessed tax roll valuation. This is a variable amount that is adopted by resolution by Council each year which has a cap amount that can only be increased through an election.

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