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Council reviews budget proposal including 1¢ tax-rate bump, 3% COLA and TMRS increase to 7%
Summary
City staff presented a draft fiscal 2025–26 budget that would raise the property tax rate by one cent, provide a 3% cost-of-living increase for employees and ask the council to approve moving the city's Texas Municipal Retirement System contribution from 6% to 7%.
City staff on July 30 presented a draft budget for fiscal 2025–26 that would raise the property tax rate by one cent, pay a 3% cost-of-living adjustment to employees and increase the Texas Municipal Retirement System contribution rate to 7%.
The proposed change to the city's property tax rate would move the rate from 0.4617 to 0.4717, Fred, a staff member presenting the budget, told council. "We're asking for a tax rate increase of, 1¢ from 0.4617 to 0.4717. We're requesting a 3% COLA for all employees," he said. Fred also outlined a request to increase the municipal…
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