TEXARKANA, Texas - During a regular meeting Monday, the City Council will vote on whether to approve the city's annual budget, including a reduced property tax rate.
If approved, the rate will be reduced 5 cents per $100 of assessed valuation, from 70 cents to 65.
The budget as currently proposed plans for about $109 million in total revenue and $118.2 million in total expenditures, leaving a fund balance of $24.3 million at the end of Fiscal Year 2022.
Taxes other than property tax, such as sales tax, are expected to bring in about $19.2 million.
Other large sources of revenue are Texarkana Water Utilities at about $28.2 million and grants at about $16.1 million.
TWU also is expected to account for about $30.6 million in spending. General government at $21.6 million; police, firefighting and other emergency services at a combined $19.7 million; and planning and community development at $12.3 million round out the list of most costly city expenditures.
Some highlights of the budget include increasing street maintenance funding from $300,000 to $750,000.
Another $300,000 set aside for work to be done by the city itself, rather than by contractors, would bring
the total streets budget to $1.05 million.
Police officers would get step increases in pay ranging from 4.3% to 4.6%, depending on rank, totaling $496,000.
Firefighters would also receive pay increases according to a plan agreed upon during collective bargaining.
Firefighter raises will total $1.2 million through Fiscal Year 2023.
City funding for demolitions of condemned buildings would double to $150,000.
The budget also includes a spending $250,000 to develop a small business incubator and $125,000 on downtown enhancement.
The Council will also hold public hearings and vote on a number of rezoning and permitting requests.
The agenda includes an open forum during which members of the public may address the Council on any topic for up to five minutes each.
The meeting is scheduled for 6 p.m. Monday at City Hall, 220 Texas Blvd. A live video stream will be available via the city's website.