This marks the sixth consecutive year the city will propose reducing the property tax rate during budget discussion, according to the press release. Last year, both Cedar Park and Leander lowered city property taxes rates for the fifth consecutive year, though rising property values meant some residents still saw higher property tax bills.
If approved, the current property tax rate would be reduced to 55.18 cents per $100 of value. Property tax bills for Leander homeowners would remain almost the same or slightly decrease, according to the press release.
Home building and commercial developments in Leander have brought the city approximately $558.7 million of taxable value, contributing to the property tax rate reduction, the press release shows.
"We always want to meet or exceed expectations of high-quality city services while fulfilling our community's desire for affordability," Leander City Manager Kent Cagle said in the release.