Colleyville Council to Adopt Effective Tax Rate
The annual process of setting budgets, adopting tax rates and, ultimately, generating your tax bill is underway across Texas.
Assistant City Manager Adrienne Lothery presented the City Council with the proposed tax rate for Fiscal Year 2018-19 during a recent work session. Colleyville City Council is poised to adopt its effective tax rate of $0.320800 per $100 valuation.
The effective tax rate is the rate that would raise the same amount of money from properties in the city as last year, in other words, a no-new-taxes tax rate. With property values in Colleyville going up about 8%, the City looked for ways to alleviate the impact this would have on citizens.
To adopt the effective rate, Mayor Richard Newton said the city had to find $1 million to save over the year. The city staff and Colleyville City Council were able to accomplish this through hard work and a shared vision. The groundwork was laid over a year ago when City Manager Jerry Ducay came on board and got staff focused on the City's effort to adopt an effective tax rate. City staff, along with the mayor and council, began looking at ways to make government operate differently, more like a business. "You've got to have a great staff, a great city manager...that embrace this whole approach," said Mayor Richard Newton. Mayor Newton points to similarities between how the city operates and small businesses, "...there's a lack of bureaucracy, lack of red tape, and we make decisions and get it done!" Newton also credits efficiencies made by city staff as a major reason why this goal was accomplished.
The city's property tax rate is only about 14% of residents' total property tax bill and that goes toward paying for city services like police, fire, and public works.