The city of Shenandoah has the lowest property tax rate in Montgomery County, and it is about to see a slight reduction for the 2015-16 fiscal year. Meanwhile, average home prices rose nearly $110,000 from 2013 to 2015.
Currently, the property tax rate is 24 cents per $100 valuation, but the City Council wants to lower it for the next budget year to 0.2399 cents, Finance Director Jennifer Calvert said. The council approved the new rate Aug. 26.
One reason for lowering the property tax rate includes not financially overestimating what the city needs to operate, City Administrator Greg Smith said.
“We always want to lower the property tax for our residents and businesses, but we need to do it smartly,” he said. “So this year we lowered it to below 24 cents. We only want to collect the necessary taxes to do our job and provide the services. So when you look at what it costs to operate the city and you look at the increases in the taxable value in both new properties and the revaluation, it was determined that the rate of 0.2399 [cents] met the council’s desires and needs to fund the budget and continue to look to the future.”









