TEXARKANA, Texas — No one spoke during two public hearings on the proposed Fiscal Year 2020 property tax rate at Monday's regular meeting of the City Council.
The hearings related to an ordinance fixing the rate and a resolution ratifying the city's proposed Fiscal Year 2020 budget, which takes effect Oct. 1.
If the ordinance passes, the property tax rate will remain at $0.70 per $100 valuation.
The city's overall property valuation is expected to increase by more than $39 million in Fiscal Year 2020, resulting in an increase of property tax revenue of more than $273,000, according to estimated values. By state law, because property tax revenue is expected to increase, the Council must pass a separate resolution ratifying the budget.
Votes on the property tax ordinance and resolution, as well as a separate ordinance adopting the budget, are scheduled for the Council's meeting on Sept. 9.
The Council also voted unanimously to adopt a revised master fee list. There was a first briefing on rezoning 8204 N. Kings Highway to allow a single-family residence there, as well as another first briefing on permitting a permanent cosmetics business at 3003 Richmond Road.
The Council also conducted a public hearing and voted unanimously to permit a permanent cosmetics business at 3303 Richmond Road and rezone 3904 Sylvia Drive to allow a single-family residence there.