WICHITA FALLS (KFDX/KJTL) — Some good news coming out of Wichita Falls City Council this morning after councilors voted to lower the property tax rate.
Mayor Stephen Santellana said due to more revenue coming in from higher property values and other sources, the city was able to lower the rate by 6 cents while still increasing the overall budget and providing pay raises for city employees. Something that Mayor Santellana said doesn’t come by very often.
“We had the ability to do it this year and we really wanted to, we didn’t go to the no new revenue rate, we’re still in between that and the highest rate and it looked like a pretty good compromise and having almost no comments from the public, I think most people agree with that,” Santellana said.
The big spike in property values more than made up for the cut in the tax rate. The no-new-revenue tax rate would have been a rate that would bring in the same revenue as last year.