Meadowlakes taxes inch down

BY GLYNIS CRAWFORD SMITH

THE HIGHLANDER

The Meadowlakes City Council meets next on Aug. 16, but most of their hard end-of-year is done, with the budget hearing and tax rate adoption not set until Sept. 20.

In a special session on July 27, the council adopted a proposed ad valorem tax rate for 2016 of $0.3186 per $100 valuation. That is about six-tenths of a percent less than last year's tax rate.

In her digital newsletter to citizens, Mayor Mary Ann Reasoner compared that decision to a similar choice in Marble Falls to propose continuing their rate, scraping just under the effective rate.

“Theirs (Marble Falls' rate) at $0.6485 per $100 valuation is more than double our rate,” she said. “Of that amount, Marble Falls will be collecting $0.4157 for their interest and sinking fund (I&S) and $0.3236 is for maintenance and operations (M&O). They were pleased to be able to devote just 64 percent to debt service, down from this year's 68 percent and 75 percent in Fiscal Year 2013.

“By comparison, the Meadowlakes split is very close to 50-50, which is the goal for all cities. Our total will be $0.3186 per $100 valuation, with $0.1598 for I&S and $0.1588 for M&O.”

That is about 51 percent for I&S and 49 percent for M&O.

City Manager Johnnie Thompson, with staff and based on council workshops, has proposed a budget for fiscal year 2017 with no increases in utility rates or fees.

The proposed budget reflects a combined total income in excess of $3.028 million, about 4.6 percent up from fiscal year 2016. Operational expenses are proposed at around $2.5 million and about $500,000 will be devoted to debt retirement.

“This compares to about $2.8 million in operational expenses and $501,000 in debt retirement budgeted for fiscal year 2016,” said Reasoner.

“Based on the proposed tax rate, the average home in Meadowlakes would pay approximately the same in property taxes to the city as was paid last year,” she explained. She said the average appraised value of a home in Meadowlakes increased in value from $244,438 to $246,189, an increase of about seven tenths of a percent.

“The average homeowner in Meadowlakes pays roughly $784 a year in property taxes to the city,” she said. “Approximately $702,300 in property taxes are anticipated to be generated in fiscal year 2017.”