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Texarkana council adopts FY2025 budget, OKs 0.65 tax rate and $497,000 tax-note sale
Summary
On Sept. 9 the Texarkana, Texas City Council adopted the FY2025 budget, approved a property tax rate of 0.650000 per $100 of assessed value (described in the meeting as a 4.95% increase), and authorized a two-year tax-note sale sized to net about $497,000 for city projects.
The Texarkana, Texas City Council on Monday adopted the city’s fiscal year 2025 budget, set a property tax rate of 0.650000 per $100 of assessed value and approved the private placement sale of Tax Notes Series 2024 that will net the city roughly $497,000 in project proceeds.
During a public hearing and subsequent roll-call votes, councilors unanimously approved the budget ordinance that amends revenue and expenditure estimates for the fiscal year ending Sept. 30, 2024 and adopts the budget and appropriations for the year beginning Oct. 1, 2024. City staff said the packet included a small amount of additional grant funding added since the prior briefing; specific grant amounts were not specified in the meeting packet or comments.
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