City Of River Oaks: City Council To Set 2021 Tax Rate

Press release from the City of River Oaks:

September 2nd, 2021

Following the Tax Rate Increase Public Hearing on August 31st, the Mayor announced that the tax rate adoption is scheduled for Tuesday, September 7, 2021 at 7 P.M. in City Hall. Enclosed is both the original and revised tax calculation worksheets. The revised worksheet is due to a reduced debt rate of the certificate of obligation bonds as adopted by the City Council on August 24th. THIS YEARS PROJECTED PROPERTY TAX REVENUE AT A 100% COLLECTION RATE INCLUDING TAX CEILINGS FROM PREVIOUS YEARS IS $2,750,940 BASED ON ADOPTING THE TAX RATE OF $0.720874 per $100 OF VALUE. The Maintenance and Operations Proposed Rate is $0.695948/$100 and the debt rate is $0.024926/$100 that together equals the total tax rate of $0.720874 per $100 of property value. Both the maintenance and operations tax rate plus the debt rate together do not exceed $0.735557/$100, which is the highest rate allowed without triggering petition for election.

• Document 029 RO. Revised Tax Worksheet 08/26/21
• Document 029 RO. Original Tax Worksheet 08/06/21

This press release was produced by the City of River Oaks. The views expressed here are the author’s own.