A brief city council meeting was held Monday, Aug. 13 as the board tackled items dealing with developments and its tax rate.
Though no comments were heard, a public hearing regarding the city’s proposed tax rate was held. This is the first public hearing and a second one is scheduled for the Aug. 27 city council meeting.
This year’s proposed tax rate is 68.88 cents per $100 valuation compared to last year’s rate of 68.98 cents. This rate is the rollback rate, or the maximum tax rate allowed before voters may petition for a lower rate.
With the rollback rate citizens will see about an 8 percent increase in their taxes this year.
The city’s effective rate is 60.02 cents per $100 valuation. The effective rate would give the city the same revenue as they received in 2017.
Council approved a final plat for the D.R. Horton subdivision Trails at Riverstone Phase 5, which is located south of Monte Carlo Blvd. and west of Tickey Creek.
According to Chief Building Official Shawn Fort, the plat contains 231 homes and nine HOA spaces and was recommended for approval by the Planning and Zoning Commission.
By Wyndi Veigel • News Editor • [email protected]
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