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Palm View council approves tax roll totals and hears investment earnings report
Summary
Council approved certified 2024 tax roll totals showing a market value near $954.4 million and a taxable base of about $828 million, and finance staff reported a pooled tax‑fund yield of about 5.2% as of Sept. 30.
The Palm View City Council approved the city’s certified 2024 tax roll totals and received a quarterly investment‑earnings report from finance staff.
Finance staff reported a total market value for Palm View of $954,398,651 and a taxable value of approximately $828,000,000. At the city’s current tax levy this taxable base translates to about $4,719,741 in revenue available for the budget, a figure staff said the budget assumes at roughly a 90–92% collection rate.
On investments, the finance director summarized the quarter ended Sept. 30, saying the city’s pooled tax fund yield averaged about 5.2 percent. Staff noted recently received CEO monies had not yet been transferred to the tax pool at the time of the report and would increase reported earnings once posted. Quarterly interest income was described as roughly $30,000, with an annualized outlook around $120,000 if yields hold.
Council approved the tax roll totals by motion and voice vote. Council also discussed banking arrangements and a possible new dedicated Lone Star account for solid‑waste transfers to reduce interbank check delays.
The council’s action completes the statutory requirement to accept the certified tax roll and to receive the quarterly investment report; staff said they will post check registers and related financial documents for public transparency.
