City expected to raise same amount of taxes as last year
The Granbury City Council has voted to place the effective tax rate of $0.394594 – or 40 cents per $100 valuation – on an upcoming council agenda for adoption.
It is a lower rate than the $0.3999260 that was originally placed on last week’s agenda for discussion.
The effective tax rate means that the same amount of money will be raised for the new fiscal year as that raised for the current 2012-2013 fiscal year. Going with the effective tax rate means that the city will not have to hold public hearings.
The 2013-2014 budget will be placed on the City Council agenda for formal adoption on Tuesday, Sept. 3.
During the council discussion about adjustments to the proposed budget, City Manager Wayne McKethan mentioned that the city did not receive $787,000 in grant funding that would have paid the bulk of the third phase of the Moments in Time Hike and Bike Trail.
The matching grant through the Texas Department of Transportation (TxDOT) would have required the city to pay 10 percent of the cost of the hike and bike trail extension. That 10 percent had been factored into the proposed budget.
McKethan told the Hood County News the day after the council meeting that the city will be able to try for the funding again.
“We hated to lose that,” he said. “But we’re going to resubmit it.”
TxDOT sometimes awards grants for projects that can enhance tourism, and the city took that angle in its application, he said.
McKethan explained that the third phase of the hike and bike trail will be in the area of Counts Alley.
The trail will go into two directions, extending to Hewlett Park, the Granbury Resort Conference Center and the Langdon Center, McKethan said.
The city will open a Convention and Visitors Bureau at the Langdon Center as part of its efforts to promote tourism, McKethan stated.
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