No public comments were heard regarding the 2018 property tax rate and budget at the recent city council meeting.
Tuesday, Sept. 4 a special called city council meeting was held with two public hearings on the agenda: one for comments on the tax rate and one for the proposed fiscal year 2018-19 budget.
This year’s proposed tax rate is 75 cents per $100 valuation, 3 cents less than last year’s tax rate.
However, the effective rate is 73 cents per $100 valuation. The effective rate is the total tax rate needed to raise the same amount of property tax revenue for the city of Farmersville for the same properties in both the 2017 tax year and the 2018 tax year.
On a home that is valued at $152,209 with the proposed tax rate of 75 cents, a citizen would pay $1,141.56 in city taxes.
By Wyndi Veigel • News Editor • [email protected]
For the complete story see the Sept. 13 edition or subscribe online.