The New Ulm City Council on Tuesday set the city’s preliminary tax levy for 2012. Property taxes in New Ulm are tentatively set to increase by more than $837,000 next year, a 14.88% tax hike. The overall expenditure increase in the city’s general fund is expected to be about 5%. A public hearing on the budget and tax levy will be held on December 6th prior to final approval. In other business Tuesday, the council gave it’s approval to the final step of installing new signs welcoming people to New Ulm. It’s expected to cost upwards of $16,000 to install the 4 lighted signs. This comes after solar power for the lights was found to be not feasible at this time. Councilor Les Schultz says work on the sign locations will now start this week, and the installation should be complete within 6 to 8 weeks. The council also awarded bids to Paul’s Electric for lighting replacement projects at the New Ulm Civic Center, Vogel Fieldhouse, and the city racquetball courts, and approved the final assessment rolls for the 2010 Utility, Street and Alley improvements.