What you need to know
At the Aug. 14 meeting of Selma City Council, council unanimously proposed a tax rate of $0.1891 per $100 valuation, a slight increase from the current rate of $0.1879 per $100.
According to the Texas Comptroller, the no-new-revenue tax rate is a rate that would bring in the exact same revenue as the prior fiscal year for properties that were taxed in both years. This excludes any new property added onto tax rolls over the last year.
The city’s proposed FY 2025-26 budget shows $1.83 million in projected property tax revenue. The majority of proposed budget revenues come from sales taxes, an estimated $10.19 million.
The general fund budget is projected as balanced, with $16.62 million in both revenues and expenditures.
Next steps
Selma will adopt its FY 2025-26 budget Sept. 11 and adopt the no-new-revenue tax rate on Sept. 18, City Administrator Johnny Casias said.
