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Cochran council sets 2024 millage at rollback rate in 4-1 vote
Summary
After a public hearing, the Cochran City Council voted 4-1 to set the 2024 millage at the rollback rate of 10.875 mills, slightly below the current 10.931 rate; the rollback would generate an estimated $1,350,528.37 in property tax revenue instead of $1,354,200.
Mayor Billy Yeomans opened a public hearing at 7:04 PM on Oct. 10 to consider the city’s millage rate for fiscal 2024. City Manager Richard Newbern told the council the current rate is 10.931 mills, which would generate about $1,354,200 in property tax revenue, while the rollback rate is 10.875 mills, estimated to produce $1,350,528.37.
No members of the public spoke during the hearing. Council Member Shane Savant asked clarifying questions about the calculations and public notice requirements; Newbern provided additional detail on the options and their budget impacts. Council Member Gary Ates moved to set the rate at the rollback level, and the motion passed 4-1, with Council Members Keith Anderson, Gary Ates, Andrew Lemmon and Lonnie Tedders in favor and Council Member Shane Savant opposed.
The change modestly reduces projected property-tax revenue compared with keeping the current millage; council members discussed the technical calculation and public-notice steps before voting. Because no speaker from the public objected during the hearing, the decision was made solely by council vote. The council did not tie the millage decision to any immediate new spending or to a specific budget amendment during the meeting.
