The city of Cottonwood Shores is busy finalizing its proposed budget and tax rate for the 2021-22 fiscal year, which starts Oct. 1. File photo
During a special meeting July 22, the Cottonwood Shores City Council approved a proposed preliminary budget and tax rate for the 2021-22 fiscal year, which starts Oct. 1.
Councilors said yes to the rate of 53.15 cents per $100 property valuation, but Mayor Donald Orr reminded them they still have to adopt a final tax rate and budget during the regular meeting scheduled for Sept. 2.
“It’s the same tax rate we’ve had for the last several years,” he said. “This will not change if I have anything to say about it.”
The preliminary projected budget is $2.7 million.
“I don’t expect this budget to change much,” the mayor said. “I think we’re tagging it pretty close. We set this as a preliminary. There won’t be a lot of push-around.”
City Administrator J.C. Hughes noted the council had to vote on the two proposals now because his staff had to get that data to the Burnet County Appraisal District by July 25. The district will send final appraisals to Cottonwood Shores leaders in a few weeks. Those appraisals will help Hughes and Orr write and propose a final budget to the councilors in a few weeks.
“This is a legal requirement,” Hughes said. “It doesn’t mean you set the tax rate or budget now.”
The council will conduct public hearings for the tax rate Aug. 12 and 19. Adoptions of the tax rate and budgets are Aug. 26 and Sept. 2.
The council is expected to conduct these hearings and adoptions at the Cottonwood Shores Civic Center, 4111 Cottonwood Drive in Cottonwood Shores.