During tonight’s public hearing at 6 p.m., Bellaire City Council will hear from residents about the proposed tax rate.
This is the last public hearing that will be held regarding the proposed tax rate of $0.3999 per $100 valuation. Council will approve a tax rate on Oct. 18.
Council heard from three residents, who urged council to find more ways to cut, during its first public hearing on Sept. 28. Several residents submitted written comments, which were read on the record by Mayor Cindy Siegel.
Council approved 6-to-1 taking a record vote to increase property taxes for the 2010 tax year, during its regular meeting on Sept. 20. The proposed tax rate is a 2.4 cent increase.
Last year’s tax rate was $0.375900 per $100 of taxable value, costing the average Bellaire home $1,778.
The average taxable value of a Bellaire home this year is $477,284.
If council approves the proposed tax rate of $0.3999 per $100 valuation, the amount of taxes for the average home would be $1,909.
City Manager Bernie Satterwhite Jr. said during the Sept. 28 meeting that there’s probably one home in Bellaire that meets the average home criteria. The amount of taxes a resident will pay depends on the value of the home.
The proposed tax rate would raise $12,859,662 in revenue for the city, which is $322,150 more than last year.
The last time the city held a tax rate public hearing was in 2005 for the 2006 tax year.
If council adopts a lower tax rate, the 2011 budget that was unanimously approved on Sept. 20 will have to be revised and approved by council again.
The public hearing will be held at 6 p.m. in the council chambers, 7008 S. Rice Ave.
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