City considers first tax increase in 8 years
By Brenda Sommer
After eight years without an increase, the city of Mexia is considering a slight raise in the property tax rate.
At Tuesday night’s regular monthly meeting, City Council set its proposed tax rate of $0.7600 per $100 in taxable value, an increase from last year’s rate of $0.7292 per $100.
Last year ’s tax base was $243,733,269, whereas this year, properties in the city are worth $253,178,973, after subtracting value of new property.
The proposed tax rate is above the effective tax rate – the rate at which the city would bring in the same amount of revenue as the previous year, adjusted for any changes in property values – which is $0.6999 per $100 of value.
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