Design curve

2019 Property Tax Rate

The City Council meet in it's regular monthly meeting on Tuesday, September 10th.  During the meeting the tax rate of 0.679087 per $100 value was approved.  Of that 0.465163 will go toward Maintenance and Operations and the remainder, 0.213924 will be put towards Debt.  
Based upon the valuations received from Mitchell County Appraisal District, the City has a taxable value of $145,378,451.00.  
If all taxes monies were received, the City would receive $987,246.16 in tax revenue.  Of this total, $311,000 goes towards Debt and the remainder, $676,246.76 goes towards maintenance and operations.
The City's largest department, the Police Department, annual operating budget for FY19-20 is $871,320.00.  This leaves a gap of $195,073.24 not cover by tax money.   
The official notice of the tax rate can be found here.