Water rates for the city of Lisbon are slated to increase by 2 percent, and sewer rates are slated to increase by 3 percent.
An average household will see an increase of about $2 per month.
An average water bill is expected to go to $34.65 per month, compared to the $33.97 currently seen by many residents. Sewer rates are expected to go from $47.67 from the current $46.28 — roughly $1.40 a month.
Maggie Burger of Speer Financial said the rate increases proposed for water were slated to increase by 2 percent to account for increased costs of maintenance, equipment costs, salaries, insurance and other details. The rise was also to help the city generate enough revenue to pay on the water revenue bonds.
For the sewer rate, Burger expected that a 3 percent raise for the next three years is likely.
Like the water rates, Burger said the rates are increasing to address increases to supplies, salaries, insurance, maintenance and other costs.
For sewer, the City of Lisbon also has three significant revenue bonds to be paid off, the most recent being for the 2018 sewer projects.
“By increasing this by 3 percent over the next three years, the city will be able to pay down a significant amount of the debt on the revenue bonds,” Burger said.
Burger said that the city will be able to pay off the 2004 sewer revenue bonds in fiscal year 2024.