Wichita city government expects to collect a $26.7 million surplus this year and next, more than enough to offset property tax revenue increases for 2023 and 2024. The city expects a $12.6 million budget surplus for 2023 and a $14.1 million surplus in 2024. At the same time, it’s budgeting for $12.6 million more in property tax revenue for next year. The city could have used this year’s surplus to lower the mill levy and offset next year’s property tax revenue increase. Instead, the City Council approved keeping the mill levy the same, which means property owners whose properties increased in value will pay more in taxes.
Source: Local News | Wichita Eagle
