The Thornton City Council discussed municipal finances during their regular meeting on Tuesday, March 8 at City Hall. At the meeting the council approved the budget for fiscal year 2016/17.

     This year’s budget sees the end of the city’s debt service for the water tower, freeing up $42,000 for expenditures. Some of those funds have instead been directed to Community and Economic Development. The new budget allocates $6,500 to economic development, which has received no funding for at least two years.

     The estimated levy rate for regular property was set at $11.26 per $1,000 valuation, down from $13.71. The new rate for agricultural land was set at $3.00 per $1,000 valuation.

Read the full article in the March 17 edition of the papers.