Cottonwood Shores looks to grow through more taxes, development
By Emily Hilley-Sierzchula
Council members unanimously approved the property tax increase to $.5438 per $100 property valuation, which essentially amounts to a $26.60 increase for every $100,000 worth of property. (The previous rate was $.5172 per $100 valuation.)
Property owners can expect to see the tax increase reflected in their October statements.
Although Mayor Donald Orr conceded that not everyone in the city is eager to grow, city officials are encouraging economic growth, and, along with it, new residents, developers and businesses.
“Growth has a bad connotation for some people, especially if it’s not controlled growth. I respect that,” Orr said. “The bottom line is that growth is not bad, it’s essential: if you don’t grow, you die,” he added. “Central Texas is growing, and we need to make ourselves attractive.”
Over the last six months, the city has seen an increase in interest from businesses wanting to move to Cottonwood Shores.
Dollar General is reportedly considering opening a store in the city, but the deal is not final.
“We want to balance tax increases with growth so residents can pay roughly the same amount in property taxes each year, yet the city will increase its revenue,” Orr said.
For the full story, see Tuesday's Highlander.
