For the first time since the city of Green Park’s founding in 1995, there will be a non-zero tax rate on commercial real estate. The Green Park Board of Aldermen passed an ordinance setting the commercial property tax rate for 2025 at $0.52 per $100 assessed valuation at a meeting on Sept. 29. 

The other two tax rate categories — residential and personal property — are still set at $0 for 2025. Green Park does not have an agricultural real estate tax category.

The city’s ability to levy a tax on Green Park commercial property was made possible by the passage of a bill on the April ballot, which passed by a roughly two-thirds majority.

“The reason for this is the amount of money that we’re spending on our commercial streets, where we receive absolutely no revenue from our commercial partners,” former Green Park Mayor Tim Thuston said in December, when that bill was placed on the ballot. “We love them, but we’re paying for their streets and we’re getting nothing in return. We’re going to ask them to put a little skin in the game so we have some help with the cost of offsetting the construction.”