The city of Granite Shoals is still nailing down its new budget and tax rate, despite a looming public hearing and meeting to finalize details. By mid-day Friday, Aug. 25, officials announced a special meeting on the proposed budget at 6 p.m. Monday at City Hall, one day before the public hearing.
A version of the fiscal year 2023-24 budget is posted on the city’s website but not considered accurate or usable by city officials, who said it still needs work. Mayor Kiel Arnone assured DailyTrib.com that a balanced budget would be made available by Monday before Tuesday’s 6 p.m. public hearing at City Hall, 2221 N. Phillips Ranch Road.
“The adoption of the city’s budget is an important process because it guides the operation of our city over the next year,” he said in an emailed statement to DailyTrib.com regarding the coming hearing. “City staff is working diligently to prepare and fine tune the draft budget before the upcoming budget hearing. The city knows this is a subject of interest for its citizens, and the draft will be shared publicly as soon as possible.”
A regular Granite Shoals City Council meeting will follow the hearing on Tuesday, and members will vote on the proposed budget and tax rate.
The proposed tax rate would be the lowest the city has seen since 2015. The rate of $0.5080 per $100 valuation is a 10.5 percent reduction from last year’s rate of $0.568.
Property value estimates from the Burnet Central Appraisal District for 2023 combined with the proposed tax rate should reap the city about $4.9 million in property tax revenue, an 11 percent increase from last year’s $4.4 million.
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