Council To Hear Hurricane Ike Recovery Update, Hold Public Hearing On Proposed Tax Rate
West U. City Council will hold a special meeting at 6 p.m. tonight, Sept. 22, to hear updates on Hurricane Ike recovery efforts. The meeting will be held in the conference room at the Municipal Building, 3800 University Blvd. Council will hold their regular meeting at 6:30 p.m. in Council Chambers.
The regular agenda includes the first public hearing on the proposed tax rate. For the first time in two years, the City of West U. is required to hold public hearings on the tax rate due to the possibility of the rate being higher than the effective tax rate. City Council held a “record vote” at the last council meeting on publishing highest possible rate of 36.14 cents per $100 in valuation in the public hearing notices as the possible tax rate for 2008. The vote passed 4-0 with Councilman Michael Talianchich absent.
The effective tax rate is the rate the city would have to assess to generate the same revenue as the previous year. The effective tax rate for 2008 is 34.05 cents. If a higher rate is adopted, it would be the first time in two years that a rate was adopted higher than the effective tax rate. Although 36.14 cents is lower than 2007’s rate of 36.6 cents, most residents would pay more in taxes due to increased property values.
The second public hearing is expected to take place at the Oct. 13 council meeting, with the last public hearing and the adoption of the tax rate and budget taking place at the Oct. 20 council meeting.