The Montgomery City Board of Aldermen approved the new tax rates for 2026 during a meeting on Aug. 17.

Board members adopted a tax rate of $0.5185 per $100 of assessed value for general revenue and $0.3682 per $100 of assessed value for the Montgomery City Public Library.

The decision was made following a public hearing. No comments were made at the public hearing and the measure was passed unanimously.

“Our rates went down which was OK because when we advertised the higher ones, we passed the lower ones, which we knew we would,” City Administrator Steve Deves said.

Last year, the tax rates were $0.5178 and $0.3677 for the general revenue and library, respectively.

The total assessed valuation for the general revenue and the library for 2026 is $59,083,147, a decrease of $658,752 from last year. Real estate for this year is $47,029,327, an increase of over $353,000. The personal property total is $12,053,820, a decrease of $1,012,470 from 2025.

The total for real estate is less new construction and improvements is $266,930, a decrease of $202,440 from a year ago. There was no personal property increase this year, compared to $107,507 from last year.

The city saw an increase of $3,000 in maximum permitted general revenue and $2,000 in maximum permitted library revenue.

Those figures were based on before the Board of Equalization assessment valuations.

Also at the board meeting, Montgomery City resident Jackie Brower talked to city council members about his mobile home park, which was one of two grandfathered mobile home parks in town.