Shenandoah City Council voted 4-1 in favor of allowing an option for the city to adopt a tax rate higher than the no new revenue rate for the fiscal year 2021-22 budget during an Aug. 11 meeting.
Information presented to the council by Shenandoah Finance Director Lisa Wasner indicates the city has maintained a tax rate of $0.1799 per $100 of valuation since 2018. Based on the appraised taxable value in Shenandoah, the no new revenue rate would be $0.1737 in order to generate the same revenue in tax dollars as it did in 2020.
"The no new revenue rate will take the same parcels as last year, look at them and yield the same dollar amount," Wasner said. "If your appraisals are higher, your tax rate will be lower."
The city council approved of an option to maintain the tax rate at its current $0.1799. Wasner said the motion does not mean the new tax rate has to be above the no new revenue rate.
