City adopts tax rate, budget for fiscal year
On Sept. 8, the city of Teague officially adopted its annual tax rate and budget for the 2020-21 fiscal year during a called meeting of the Board of Aldermen.
The Aldermen voted unanimously, 4-0, to adopt a budget with a voter-approval property tax rate of $0.627920 per $100 valuation, nearly a 15-cent decrease from the 2019-20 fiscal budget. The budget will raise less revenue from property taxes than last year’s budget by an amount of $192,921.01, which is a 19 percent decrease. The property tax revenue to be raised from new property this year is $12,253.83. There is no amount of city debt obligation secured by property taxes for 2020-21.
On the budget document, available to view on the city’s website, includes the following mission statement for the city:
“It is the mission of the City of Teague to make Teague a comfortable, well-rounded place to live and work by setting pro-active and progressive goals and assuring their implementation through the delineation of specific tasks for City supported agencies, programs and staff.”
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