Small Tax Rate ReductionPublished: August 10, 2012
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There will be no tax hike in fiscal 2012-2013 for City of Rockwall property owners – in fact, they will pay a slightly lower rate.
Rockwall city council members asked that the staff reduce the existing tax rate of 50.31 cents per $100 valuation to the calculated effective tax rate of 50.25 cents.
The proposed new operating budget totals $26.2 million. It includes adding four police officers and two firefighters. Also, $150,000 will be added to the street maintenance budget for repairs and maintenance operations – a 23.7 percent increase.
A conservative 5 percent increase in sales tax revenue is projected for the new fiscal year that begins Oct. 1st. Sales tax revenues for 2011-2012 are estimated to be up 9 percent by the end of September.
A public hearing on the proposed budget is scheduled for September 4th, 6 p.m. at City Hall.
City of Rockwall