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City to cut tax rate increase

Levelland taxpayers will get a break next year – sort of.

The city council learned Monday that a mistake was made in calculating the effective tax rate for the coming fiscal year.

City Manager Rick Osburn had recommended that the council increase the property tax rate from 69.5 cents to 77.1001 cents per $100 valuation.

That was the effective rate, or the levy needed to raise the same amount of revenue as this year.

Osburnís recommendation had been based on a decline in property values.

However, the Tax Assessor-Collectorís Office made a mistake in calculating the effective rate.

The wrong  number was plugged into a complicated tax formula and the effective rate should have been 73.5204 cents, Osburn said.

Osburn said he will recommend that the council adopt that rate.

The city will first have to go through the process of issuing notices before the council can take action on the new rate.

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