Aug 25 2011

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LV tax rate remains same

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.


Permanent link to this article: https://www.portisabelsouthpadre.com/2011/08/25/lv-tax-rate-remains-same/

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