By Glynis Crawford Smith
The Highlander
The Marble Falls City voted to propose a fraction-smaller rate than recommended by city staff for a reduction of $1,260 in property tax income in the Fiscal Year 2017-2018.
The new rate and a proposed budget of approximately $10.1 million will have a public hearing Aug. 15 and possible adoption Sept. 5.
Unlike most cities, Marble Falls is a city of public works driven by its economic engine. Sales tax makes up about 60 percent of income and property tax, about 20 percent. Money from bonds, grants, utilities and fees form most of the remaining income.
Staff had proposed adoption of the effective tax rate, a rate lower than the current rate that equaled the same income as the last. The current rate is 0.6483 (64.83 cents) per $100 valuation. The effective rate would be 0.6341 (63.41 cents) per $100 and the proposed rate chosen was 0.6340 (63.40 cents) per $100.
