TAX RATE INCREASE NOTICE
The vote to adopt the City of Falfurrias 2015 fiscal year tax rate will take place on Thursday, September 18, 2014 at a City Council Meeting 6:30 p.m. in the Falfurrias Police Department Conference Room at 205 E. Allen St., Falfurrias, Texas 78355.
The second public hearing will take place on September 10, 2014 at a special City Council meeting at 6:30 p.m. in the Falfurrias Police Department Conference Room at 205 E. Allen St., Falfurrias, Texas 78355.
The proposed budget is based on a tax rate of $.500000. This is the same tax rate that was approved the last three years. At a City Council meeting on August 13, 2014 the City Council voted for a proposed tax rate of $.52749 which means that when the actual tax rate is voted on it cannot exceed the proposed rate. The law requires on the budget cover page the following language, which is based on the proposed rate even though that is not the rate used to support the draft budget.
On Final Passage, September 18, 2014 the City Council adopted a $.50000 Maintenance & Operation Tax Rate and $.00000 Debt Service Tax Rate. This budget will raise more revenue from property taxes than last year’s budget by an amount of $10,056 at 100% collection rate using the $.50000 per $100 valuation, which is a 2.56 percent increase from last year. The Fiscal 2015 collection rate is budgeted at 88 percent. The property tax revenue to be raised from new property added to the tax roll this year is $2,907.