The tax rate will remain at 60.8 cents per $100 of valuation. It’s a slight tax increase due to an increase in valuation and should garner an approximate $33,600 increase in property tax revenues.
The total budget is $21.5 million a 46 percent increase from last year’s budget of $14.7 million mostly accounted for within the water improvement and new park projects.
The budget includes $6.5 million of the water project to be spent next year with an additional $6 to $8 million the following year.
The water rates are set to be adopted Sept. 26 and go into affect Oct. 1.
The city is expecting $1.3 million from the Brazos River Authority and has budgeted $1 million of that to build the park with $300,000 to be budgeted in later years for maintenance.
Public hearings are set for the city budget and tax rate adoption for 9:30 a.m. Sept. 12 and 26 at city hall.
To read the complete story, see the Sept. 1 edition of The Graham Leader.