City To Hold Public Hearing On Budget

Tax Rate Unchanged

HOT RODS AND CLASSIC CARS of all shapes and sizes were on display at the 16th annual Show of Wheels Car, Truck and Motorcycle show held Saturday at the Courthouse Square in Fairfield. Judges are shown checking out one of the many vehicles entered in the show. The Bi-Stone Antique Tractor Club also had their tractors on display.

The Teague City Council will conduct a Public Hearing on Tuesday, September 17th for considering, presenting and adopting the new 2013-2014 fiscal year budget.

The meeting will be held in the Conference Room at City Hall on South 4th Avenue and begin at 6 p.m.

The city?s tax rate for fiscal year 2013-2014 will remain the same as last year at .741675 per $100 valuation. Due to a loss in valuation in the city of Teague, the 2013-2014 tax rate will generate approximately $18,300 less in tax revenue for the city, because the city?s adjusted tax base this year is $108,681,600, down some $4.25 million for the last year?s tax base of $112,922,940.

The effective tax for the city, which would bring in the same amount of operating taxes as last year is .769933 per $100 valuation and the rollback rate, which is the highest tax rate the city could have of imposed (8% increase) is .816895 per $100 valuation. The tax bill for a homeowner in Teague may either increase or decrease this year, depending on whether or not the taxable valuation of their property changed this year.

Due to the loss of some $277 million in taxable value in the Teague ISD this year, the TISD Board of Trustees have set the 2013-2014 tax rate at $1.499941 per $100 valuation, which is the highest rate the district can set without the possibility of facing a roll-back election. A homeowners taxes may increase or decrease this year, depending on whether or not the taxable value of their property changed this year.

The Teague Hospital District will vote on September 20th to approve a proposed tax rate of .0421 per $100 valuation. The proposed tax rate would increase taxes in the Teague Hospital District by 7.67 percent.

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