Update for October 16, 2014
Castroville looks at tax rate of 46.22˘
By William Hoover
Castroville City Council last Tuesday, Aug. 13, approved setting the tax rate at 46.22˘ per $100 property valuation to give themselves budgeting flexibility leading up to their adoption of a budget for fiscal year 2013-14.
“Right now, the fiscal year 2014 budget maintains the current tax rate of .4545,” said Director of Administrative Services Marie Gelles, who noted the Medina County Tax Office reported Castroville’s effective tax rate is .4462 and the rollback rate is .4622.
Based on the average value of a home last year of about $142,920, the tax rate of 45.45 cents per $100 valuation yielded taxes of $649.57. The average value of a home this year increased by 1.29% to $144,770, which Gelles said would yield $657.97 under the same tax rate.
“The roll back rate of .4622 would increase taxes to $669.13,” she added. “It has been our practice for public hearing purposes to go up to the rollback rate. That provides council with more options during the budget process.”
Public hearings on the proposed budget will be held this coming Tuesday, Aug. 27 and also on Sept. 10 in council chambers. Both hearings will start at 6 p.m. and the public is encouraged to attend.
In Other Business
• After returning from executive session, council unanimously approved extending the existing power supply agreement with CPS Energy of San Antonio for one month through Oct. 31, 2013.
“We are still considering competing offers and we wanted to give ourselves additional time,” said City Administrator Paul Hofmann of the executive session action. “We asked CPS if they’d be agreeable to giving us another month on our contract and they were.”
• The next Castroville City Council meeting is this Tuesday at 6 p.m. in city hall. The meeting is open to the public.
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