West University Place lowers tax rate to fund 2020 budget

West University's City Council approved a decrease in the property tax rate at its meeting on Oct. 7, 2019.

West University's City Council approved a decrease in the property tax rate at its meeting on Oct. 7, 2019.

West University Place’s City Council unanimously approved a reduction in the property tax rate for tax year 2019 to fund the city’s 2020 budget at its meeting on Oct. 7.

The rate, now set at $0.30921 per $100 valuation, will portion $0.18969 to the city’s general fund and $0.11952 to the city’s debt service fund.

The total tax rate is a 2.4% decrease from the previous year’s rate but is technically higher than the effective rate, which is the rate at which the city would generate the same revenue as the previous year.

The average home value in West U is $1,198,614, city officials said, which would generate an annual city tax of $3,706.23 under the new rate, a savings of about $90, though actual taxes paid depend on how much a property's value changes year over year.
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