By Glynis Crawford Smith
The Highlander
The Granite Shoals City Council on Tuesday night, Aug. 9, heard a review of a staff proposed budget and agreed to publish a tax rate they would not exceed: $0.5572 per $100 valuation.
That rate represents a sliver of an increase over the 2015 rate of $0.5207, just about three and a half cents per $100 valuation. But it falls below the rollback rate but above the effective rate, bringing in this year's ad valorem tax revenue to $2.4 million.
The hard decisions on a staff proposed budget of $6.76 million will be on the table at a budget workshop Monday, Aug. 15.
Development slowed in Granite Shoals last year over the previous six percent hike in property valuation. The 2.9 percent increase in valuation would add only $56,000 to revenue if the full 55.72 cents per $100 were instituted.
