NORFOLK, Neb. -- The city of Norfolk unanimously approved its property tax levy Monday night 

Property owners in the city of Norfolk will be seeing an increase in taxes this year.  

On Monday during their regular Council Meeting, the city of Norfolk approved its budget for the 2022-23 fiscal year.  

The city is lowering the property levy from .307488 cents per $100 of assessed value to .304303 cents per $100 of assessed value. While lower than last year's levy, assessed property value in town increased by 14.86%.  

The city said the increase is due in part to the annexation that took place in October 2021.  

The city’s tax levy remained the third lowest of Nebraska cities for the First-Class in the fiscal year 2021-22.  

The city also projects the levy to be higher next year, before dipping lower for years to come.  

In its budget presentation, the city highlighted its projected levy to increase for 2023-24 before lowering on a continuous trend until 2028-29.