By Rita Cook / The Ellis County Press
OVILLA – The budget will raise more revenue from property taxes than last year’s budget by an amount of $138,282, which is a 6.49-percent increase.
The property tax revenue to be raised from new property tax added to the tax roll this year is $70,686.
Mayor Pro Tem David Griffin said, “We have a solid budget, which provides for needed infrastructure maintenance and expansion with the growth we have, and provides needed police and fire department personnel and equipment.
“While we lowered the tax rate, revenues will increase due to new homes construction and skyrocketing property valuations from the Appraisal District in an exceptional boom time.”
The city council adopted a tax rate almost two cents/$100 assessed valuation below last year’s rate, Dean explained.
“The tax rate is slightly lower than last year, but raises more money than the previous year,” Dormier said.
“About half of the extra funds are from new houses added to the city and the remainder is from higher property values.”
The proposed tax rate was passed at 0.680399 per $100 as opposed to the preceding year’s tax rate of 0.700000 per $100. The effective tax rate comes out to 0.575531 per $100 with the rollback rate of 0.680400 per $100.
The new Fiscal Year budget and tax rate is effective Oct. 1, 2017 and ends Sept. 30, 2018.