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Laredo council opens public hearing, introduces ordinance to set 2025 tax rate at $0.50609 per $100
Summary
City Council opened a public hearing and introduced an ordinance to adopt a 2025 property tax rate of $0.50609 per $100 of value; staff said new property value accounts for an 11.94% increase in taxable value while the council shifted 2 cents from maintenance-and-operations to debt service.
The Laredo City Council on Sept. 9 opened a public hearing and introduced an ordinance to adopt a property tax rate of $0.50609 per $100 of assessed value for tax year 2025, city staff said.
The proposed rate would provide revenue for the general fund and debt service, and is made up of $0.377599 per $100 for maintenance and operations (M&O) and $0.128491 per $100 for interest and sinking (I&S) for debt service, and is estimated to produce a tax levy of $134,248,550, the City Secretary read into the record. The council scheduled the final vote on the tax rate for Sept. 15 at 5:30 p.m. in council chambers.
The tax assistant collector, Dora Madonaldo, clarified how the change…
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