UPDATE: Sept. 17, 9:05 a.m.
City Council votes to increase property tax rate to $.763323 increasing police, fire and non-civil service plans: a 3.33 cent increase. It passed with 6 out of 7 votes. Councilor Jackson opposed.
WICHITA FALLS ( KFDX/KJTL) — The Wichita Falls City Council will hold the first of two public hearings, regarding the property tax rate for the 2019-2020 fiscal year.
Following the two hearings, the council will vote on setting that rate, which is proposed at just over 76 cents per $100 valuation, which is higher than the effective rate of just over 70 cents. However, that rate has a cushion in case of unforeseen expenses before the vote, and city officials say most likely the rate will be set at no increase over the current rate of almost 73 cents.
“The city manager’s preliminary budget does not include a tax increase or increases in water rates or sewer rates,” City of Wichita Falls Chief Financial Officer Jessica Williams said. “And what we are doing is being conservative. We feel like we can, at this point, put forward this budget and feel confident with what we have here.”
This year’s preliminary estimated revenue budget totals more than $192 million compared to $179 million last year.