The new tax rate is lower than the current tax rate of 58.64 cents per $100 value of property.
The effective tax rate or the rate that would have generated the same revenue as the current rate was 55.14 cents per $100 value of property. And the rollback rate was 59.57 cents per $100 value of property.
On Monday, Sept. 17, the council approved a 2012-13 balanced budget of $3.693 million. That’s up from the 2011-12 budget of $3.059 million.
Also, representatives of AKH Construction of Skidmore came before the council to inquire about subdivision requirements and platting pertaining to a development at Houston Street and Lagarto Road.
Carlos Garza, CEO of TEX Best, could not attend the meeting to discuss the development at the southwest corner of U.S. Highway 281 and U.S. Highway 59.