Granite Shoals proposes 60.5 cent tax rate

By Lew K. Cohn
Managing Editor

Granite Shoals City Council proposed a “not to exceed” tax rate of 60.5 cents per $100 valuation for 2019 at their regular meeting Tuesday, Aug. 13.

The tax rate proposed Tuesday by the council includes 35.15 cents for maintenance and operations and 25.35 cents for interest and sinking (debt service) to fund an anticipated $7.29 million expense budget, Mayor Carl Brugger said.

It represents a 0.9-cent increase over last year's overall tax rate of 59.6 cents per $100 valuation and is higher than the city's effective tax rate of 55.9057 cents, but less than the rollback tax rate of 60.637 cents.

The effective tax rate is one which generates the same amount of revenue as the previous year, based on the current year's taxable values, while the rollback rate is the maximum the city can set before citizens have a right to petition to “roll back” the tax rate . . . .

Find the rest of this story in the Friday, Aug. 16 issue of The Highlander, the newspaper of record for the Highland Lakes. To offer a comment or news tip, email lew@highlandernews.com. To subscribe, call 830-693-4367.