With a proposed property tax rate of $0.2171 per $100 valuation in the lead up to Wednesday’s meeting, the Rollingwood City Council lowered its tax rate for fiscal year 2016-17 to $0.2002 per $100 valuation. A motion by Alderperson Joe Basham to adopt the tax rate passed unanimously.
The maintenance and operations tax rate was set at $0.1105, about a 7.91 percent increase, while the debt service tax rate will be $0.0897, resulting in the $0.2002 final property tax per $100 valuation.
The FY 2015-16 tax rate was $0.2021 per $100 valuation.
The council also adopted the FY 2016-17 budget. About $60,000 was put into contingency before the motion in anticipation of salary adjustments that are expected to take place at a special meeting, scheduled for Sept. 27 at 5:30 p.m.
The special meeting will also serve as a drainage ordinance study session, giving council members time to work out drainage ordinance concerns with city engineers, Basham said.