Wichita city officials are considering a cut to the city’s property tax rate for the first time in decades. But the cut is so small that the vast majority of homeowners would still see an increase on their city property tax bill as property valuations continue to soar. The proposal would lower the city’s mill levy from 32.816 mills to 32.316 mills.
For homeowners, that translates to $5.75 in savings for every $100,000 in appraised value. The tax cuts more than double for commercial property owners, who would see $12.50 in savings for every $100,000 in appraised value.
Put another way, the tax break would be enough to cover one day of downtown parking in a city-owned garage — $10 — if your house is worth at least $173,913…