Public hearing: City's proposed tax rate and budget
Aug. 17, 2011 at 3:17 a.m.
IF YOU GO
What: Budget hearing for Victoria's proposed tax rate and 2011-2012 budget.
Where: Council chamber, 107 W. Juan Linn St.
When: 5 p.m. Thursday
The Victoria City Council will hold its first public hearing on next year's proposed budget and tax rate Thursday.
Gilbert Reyna Jr., finance director, delivered the proposed 2011-12 budget to the council on Aug. 2.
The proposed property tax rate would remain at 65 cents per $100 valuation. So taxes on a home valued at $100,000 would be $650.
However, under that plan, residents would in essence be paying more in property taxes to the city than they currently pay.
The effective tax rate, which would bring in the same revenue as last year, was 63.5 cents per $100 property valuation. Under that plan, residents owning a $100,000 home would pay $635.
According to the proposed budget, the increased property tax revenue would stock the city's coffers with $519,171, or 2.59 percent more than the current year.
The budget has the city generating $3.21 million more than the current fiscal year. It does this largely through increased sales and property tax revenue.
"This is the butcher's meeting," Councilman Gabriel Soliz said.
He said it was a time for council members to either defend the budget set forth by staff, or criticize it and say how it should be changed.
Mayor Will Armstrong said the staff were professionals who have designed the budget that will give affordable services to residents.
He said the council's job was to oversee that budget and set priorities.