IOWA PARK (KFDX/KJTL) — Iowa Park city leaders are continuing to work on their budget for the 2019-2020 fiscal year and part of that is setting the property tax rate.
For the past six years, the tax rate has been set at $0.76 per $100 in property valuation. Iowa Park resident Cary Waters said he just wants to see the best for the city.
“I don’t like paying taxes any more than the next guy but you know, we’ve got to pay taxes if we want to continue to grow and we need to be growing more and more in Iowa Park,” Waters said.
After city leaders held a budget workshop on Monday, they also held a non-binding vote proposing to keep the property tax rate the same for the 2019-2020 fiscal year. City Manager Jerry Flemming said there are two main elements of a tax rate.
“One is the debt portion of it and fortunately the city of Iowa Park doesn’t have any debt that’s paid for by taxes so that part of our tax rate is zero,” Flemming said. “The other part of the tax rate is for the maintenance and operations. That covers all of our general fund programs.”
The tax rate will go towards helping the city with some of the city’s operations.
“Council may a la carte choose some programs or delete some programs based on the cost of those programs and then hopefully whatever tax rate they are leaning towards will cover all of the programs that they want,” Flemming said.
Once the tax rate is set, city leaders can continue to work on the budget for the upcoming year.
Residents will get to voice their opinions on the budget at the hearings that are tentatively scheduled for Sept. 16, 2019, and 23. When the budget is set, residents will then know what the official property tax rate will be.