(a) There shall be eight classifications of property. The Village Administrator is directed to prepare a list of all lots and parcels within the Village, and assign a classification to each. A flat rate charge based on the meter size will appear on the water bill of each customer. The rate will increase on January 2016 usage and meter reading and will be billed on February 2016 bill.
(b) The rate shall increase two percent (2%) each year thereafter, effective with the January usage and meter reading and shall be billed in February of each month. Council may suspend the two percent (2%) rate increase from year to year, motion and approval of a majority of Council members voting, if revenue exceeds expectation.
(c) Outside rates shall be double the inside rates.
(d) The classifications and rates for the eight classes of property shall be as follows:
2015 | February 2016 bill | 2017, and each year thereafter | |||
Meter | Code | Ratio | Rate | Rate | Rate |
5/8" | 1 | 1 | $6.12 | $11.34 | 2% increase |
3/4" | 2 | 1.1 | $6.73 | $12.47 | 2% increase |
1" | 3 | 1.4 | $8.56 | $15.88 | 2% increase |
1 1/4" | 4 | 1.6 | $9.79 | $19.97 | 2% increase |
1 ½" | 5 | 1.8 | $11.01 | $20.42 | 2% increase |
2" | 6 | 2.9 | $17.95 | $32.90 | 2% increase |
3" | 7 | 11.0 | $67.32 | $124.77 | 2% increase |
4" | 8 | 14.0 | $85.68 | $158.79 | 2% increase |
6" | 9 | 21.0 | $128.52 | $262.18 | 2% increase |
8" | 10 | 29.0 | $177.48 | $328.93 | 2% increase |
(e) All calculations shall be rounded up at .5¢ to get to the nearest penny.
(Ord. 2015-08. Passed 11-17-15.)