September 05, 2006

Taxes To Rise 7 Cents

Little Elm Town Council originally proposed a rise in property taxes of 4-cents, yet after holding a special meeting last Tuesday evening the council authorized an additional 3-cents to bring the increase to a total of 7-cents. This will bring the tax to 47-cents per $100.00 for the 2006-2007 fiscal year.

With this proposal the average taxpayer will see their property taxes increase by a grand total of $86.86 per year.

Little Elm Finance Director, Ryan Adams says that the increase is to meet the town's rapid growth and increase services to residents. This year's budget for the general fund shows an increase in expenditures from $2,734,038.00 to $3,748,110.00 a total increase of $1,014,072.00 with most of that going to pay for staffing and equipping the town's second firestation on Walker Lane, which is schedualed for completion in the early part of next year. The increase in the Fire Department budget is $641,816.00 which is more than half of the whole tax increase. The Fire Department has added 6 new staff members and will add another 7 this year bringing the total to 31.

The budget also provides for the build out of Town Hall, continued work on the Town's Comprehensive Plan, ISO ratings review, feasibility study for exsisting fire station (due to proposed Eldorado Parkway expansion) and two new message boards to help improve communications with the residents.

There will be a public hearing on the proposed tax rate and budget during the next Town Council Meeting on Tuesday, September 5th at 7:00 p.m.

For the official announcement please
(click here).


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