By Rita Cook / The Ellis County Press
FERRIS – A public hearing was held at the last Ferris City Council meetings along with hearings held by other cities in the area gearing up to vote for the new Fiscal Year budget this week.
In Ferris, a tax rate of $0.687134 per $100 valuation has been proposed by the governing body. This is the amount to be approved at this week’s city council meeting too. This rate exceeds the lower of the effective or rollback tax rate.
Overall, it was acknowledged in staff notes, “The governing body proposes to use revenue attributable to the tax rate increase for the purpose of improving city services.”
The current Fiscal Year tax rate is also $0.687134 per $100 with an effective tax rate at $0.634490 per $100 and the Rollback tax rate at $0.653865 per $100.
The effective tax rate is the total tax rate needed to raise the same amount of property tax revenue for the City of Ferris from the same properties in both the 2016 tax year and the 2017 tax year. The rollback tax rate is the highest tax rate the City may adopt before voters are entitled to petition for an election to limit the rate that may be approved to the rollback rate.
Irma Scholes, Hutchins City Secretary said the final budget in that city is set for presentation and approval this week as well.
At the City of Wilmer’s last City Council earlier this month the new Fiscal Year Budget was brought to a vote as well as a tax rate increase. The current Fiscal Year tax rate was adopted in 2016 at 0.0423 per $100 of taxable valuation. The proposed tax rate the council presented this year was $0.5029.
This number is inclusive of Operations of Maintenance tax of $0.341009 or 50.29 cents and a debt service rate of $0.161891 or 16.1891 cents.
Also, as part of the City of Wilmer’s budget process, the city council agreed to issue $1,665,000 in tax notes. Staff notes verified this amount was to be approved in anticipation for notes to pay contractual obligations.
These obligations will be incurred for the construction of any public works or the purchase of a variety of items including materials, supplies, equipment, machinery, buildings, land and right-of-way as needed.