NOLANVILLE — Council members voted to adopt the fiscal year 2013-2014 budget and set the ad valorem tax rate Sept. 19.
The total property tax rate will decrease from 51.9 cents to the effective tax rate of 51.1 cents per $100 valuation for fiscal year 2013-2014.
“We had several meetings and public hearings about the budget so I was confident it would be adopted,” City Manager Stephen Pearl said. “We really need to continue to stretch our dollars to provide the best services we can for our citizens.”
The budget will raise more total property taxes than last year’s budget by $12,521 or 1.61 percent. Of that amount, $38,968 is tax revenue to be raised from new property added to the tax roll this year, Pearl said.
“The increase in expenses is necessary to protect the quality of life issues of the Nolanville citizens, maintain the necessary day to day maintenance and operations of the city and to continue the growth and beautification of the city,” Pearl said.
The city’s general fund receives revenue from several sources, with the top three being property tax, franchise fees and sales tax. The 2013-2014 annual budget anticipates revenues to be $65,164 more than last year’s budget, giving a balance of $1,073,020 in total general fund revenue.
Among planned projects, Pearl said the city has added $8,000 to the Public Works Department’s budget in the professional services category to work towards demolishing some of the substandard structures in the city.
“This has become a health and safety concern for neighbors and it’s becoming a nuisance,” Pearl said.
The council also voted to appoint seven members to an Economic Development Corporation Board.
This is the first time the city has established an EDC.
“Our goal is to continue to bring business opportunities into Nolanville,” Peal said.
“This will be a learning experience for all of us, but once the board gets up and running, it will be a great tool for the community.”
Contact Vanessa Lynch at email@example.com or 254-501-7567.