ABILENE, Texas (KTAB/KRBC) – The City of Abilene set its budget for the upcoming year, and for the first time ever, that budget is more than $100 million.
This budget will cause a property tax increase of 12%, or an extra $4 million. Out of that, about three-quarters of a million are from new property added to the tax roll this year.
To get that new amount, the tax rate was bumped up to 79 cents per $100 of property value. The upward trend could change in the future.
“We do anticipate, based on the growth of this community, that next year there will most likely be a tax-rate decrease, based on what those projections look like,” Mayor Anthony Williams said.
The new rate goes into effect at the start of next month.