Whenever possible, the city pays cash for capital improvements. However, more costly improvement projects are financed. This allows the city to complete the improvements sooner and keep the property tax rate as low as possible. If the city did not finance more costly projects, the improvements would be deferred for several years during which time costs are likely to go up. If the city chose to fund the proposed projects with cash by increasing the property tax rate, based on current property values we estimate the rate would need to increase by approximately 11.6 cents to pay cash for the projects over the next 6 years.