Southside Place Preliminary Taxable Property Value Comes In At $485 Million
Southside Place City Manager David Moss learned this morning that the initial estimate of taxable value in the city of Southside Place is $485 million – about a 14 percent increase from last year’s $420 million.
“It was higher than I expected,” said Moss. “I was expecting anywhere from an eight to 10 percent increase.”
The initial estimates do not take into account potential protest hearings.
“The number will come down,” said Moss.
Final numbers will be in around August or September, at which point the city will begin the budgeting process and set the 2008 tax rate. The current tax rate is .25 per $100 of valuation.