Municipal Judge Dana Huffman is congratulated by Princeton City Council for her recent recognition by the State Bar of Texas and the Texas Municipal Courts Association. Bob Wieland / The Princeton Herald
The city is proposing to keep the same tax rate for Fiscal Year 2025-26 as the previous two years, based on a 19.85% increase in taxable property value.
The Princeton City Council will take formal action on the tax rate and municipal budget following a public hearing scheduled for Sept. 8. A budget workshop is scheduled before that at the Monday, Aug. 25, meeting.
Chief Financial Officer Kelly Wilson said at the Monday, Aug. 11, council meeting that city staff recommended a proposed rate of $0.4402 per $100 in valuation.
State law requires local governments to consider two tax rates for maintenance and operations (M&O). The no-new-revenue rate would produce the same amount of tax revenue if applied to the same properties in both years. The voter-approval M&O rate is the highest tax rate the city can set without holding an election to seek voter approval of the rate.
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By Bob Wieland | [email protected]
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