By Luke Lavoie, email@example.com
8:44 AM EDT, July 29, 2013
The Columbia Association Board of Directors voted Thursday to keep its annual charge for lien-payers at $0.68 per $100 of assessed property value in the 2015-16 budget.
The annual charge has remained the same since it was lowered to that number in 2003.
At a meeting earlier this month, the board asked members of CA staff, who recommended keeping the charge the same, to explore scenarios if the rate were increased or decreasedby $0.02.
According to CA Chief Financial Officer Susan Krabbe, $0.01 per $100 of assessed property value equates to approximately $500,000, meaning an increase or decrease of $0.02 would net CA a $1 million loss or gain in revenue.
A $0.01 change in the annual charge equates to approximately $13 for the average CA lien-payer, according to Krabbe.
Proponents of an increase cited CA's numerous upcoming capital projects, which include the renovation of SplashDown, the possibility of building a new headquarters, a new downtown gym, a new indoor tennis facility and upgrading its aging infrastructure.
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