Council sets date to approve budget, tax rate

by | Aug 30, 2017 | Latest

By Joe Reavis

Staff Writer

[email protected]

After conducting a public hearing last week, Wylie city council set Sept. 12 as the date to officially adopt a new $89.9 million budget for fiscal year 2017-’18.

The council conducted a short regular meeting Tuesday, Aug. 22, to set date to adopt the budget, conduct a public hearing on a property replat and discuss a resolution requested by Texas Department of Transportation in support of a project to widen FM 2514 from Drain Street to Brown Street.

The new budget is partly financed by property taxes, $31.4 million, generated through an ad valorem levy that the council slashed this year. The proposed property tax rate is 78.1 cents per $100 assessed valuation, down from a 2017 levy of 84.89 cents. The new rate is slightly less than the effective rate, or the level required to raise the same revenue as generated in the prior year.

On Sept. 12, the council will formally vote to approve the budget and property tax rate.

For the full story see the August 30 issue or subscribe online.

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