A 5.7-cent increase in the property tax rate is part of the city's almost $40 million municipal budget. A $27.8 million tax levy, up more than $1.3 million from the previous year, is used to fund the budget, which City Council passed on Wednesday. For every $100 in assessed property value, the local-purpose property tax rate will rise to 77.9 cents. The hike will be about $285 per year for a house valued at $500,000.