Lone Tree OKs $6.8 million budget

Posted 3/12/20

The Lone Tree City Council approved a $6.8 million budget for the fiscal year that starts on July 1.

The budget includes $376,820 in property taxes or $8.24908 per $1,000 of assessed valuation on …

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Lone Tree OKs $6.8 million budget

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The Lone Tree City Council approved a $6.8 million budget for the fiscal year that starts on July 1.

The budget includes $376,820 in property taxes or $8.24908 per $1,000 of assessed valuation on property within the city. Agriculture land is assessed at $3.00375 per $1,000 of assessed value.

The budget was approved with no discussion by the council. Council members have been discussing the budget since the beginning of the year in work sessions where each line item was examined.

“It’s almost exactly like last year,” City Clerk Stephanie Dautremont said.

The big-ticket item in the budget is $3.6 million for paying back loans on renovations to the city’s wastewater treatment plant required by the state.

In the current budget, the city has $3.5 million set aside for paying back the loan. Because construction on the project has not started yet, that money was not spent.

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