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Rapid City Mayor Vetoes Property Tax Increase

August 24, 2012, 12:56 PM

RAPID CITY, SD -

Rapid City Mayor Sam Kooiker has vetoed the city council's decision to raise city property taxes next year.

The city council voted 6-4 earlier in the week to increase property taxes by the rate of inflation, an adjustment done to offset rising costs.

Kooiker says the property tax is not needed. The mayor says city sales tax collections are rising more than had been expected and eight tax increment financing districts are expiring.

The inflationary increase in the property tax would bring in an extra $402,000 in revenue to the city.

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