NOLANVILLE — Officials are proposing keeping the same tax rate for fiscal year 2016, but because of increased property values, residents may still see an increase in their tax bills.
During a special meeting Thursday, council members unanimously voted to accept proposals to keep the same tax rate of 50.54 cents per $100 of property valuation. Councilman Ernesto Servan and Mayor Pro Tem David Brackmann were absent.
“There’s still an opportunity to modify (it) if necessary,” City Manager Kara Escajeda said of budget proposals.
According to the proposals, the average value of a homestead in Nolanville last year was $133,941. With the 50.54-cent tax rate, the average homeowner paid $676.94 in property taxes.
According to overall property tax values from the Bell County Appraisal District, Nolanville’s overall property values are $899,386 this year compared to $802,210 last year. With an average taxable value of a homestead this year at $144,832, the average homeowner would pay $731.98 with the same tax rate, Escajeda said, about $55 more.
A breakdown of the 50.54 tax rate allocates 37.81 cents to the city’s maintenance and operation compared to 36.35 cents last year, and 12.73 cents for debt service compared to 14.19 cents last year.
Public hearings for both the city’s proposed tax rate and $1.24 million budget will be at 6 p.m. Aug. 27 and Sept. 3 at the J.W. Sims Community Center, 408 N. 10th St.
In other business, council members:
Held a second public hearing to discuss annexation of about 34.2 acres of land, near the Bella Charca subdivision. No residents spoke for or against the annexation. A first reading of the annexation ordinance will be read Sept. 3.