By MARTHA McCLAIN
Special to the PRESS
The property tax rate in Laguna Vista will likely remain unchanged for the coming fiscal year, even with the budgeted $1.5 million in quality of life improvements planned for this community in 2011-2012.
The property ad valorem tax rate is expected to remain at 29.3 cents per $100 assessed valuation, resulting from action taken by the Laguna Vista City Council at an Aug. 20 special meeting, where officials voted to recommend that rate for adoption. Included is the debt rate of $0.046689 is for the $1.5 million issuance of Certificates of Obligation that will fund the improvements, City Manager Rolando Vela said.
The rate was proposed at the meeting, with Mayor Susie Houston and Council Members Steve Muschenheim, Leti Keplinger and Michael Carter voting for the proposal. Absent were Board members Bill Schnier, Rita Garcia and Paul Villas.
To see this story in print, pick up a copy of the Aug. 25 edition of the Port Isabel South Padre Press or check out our E-edition by clicking here.