The University Park City Council adopted a $46.1 budget that includes a decreased tax rate of $0.27432 for the fiscal year 2013-2014 (FY2014). City Manager Bob Livingston describes the new budget as “responsive to the community’s needs—improving on the things that have made University Park successful.”
The current 27.845 cent City property tax rate will drop to 27.432 cents. Because of home value changes, however, many single-family homeowners may pay more in their City taxes. The assessed market value of the average single-family home grew from $1,092,539 to $1,153,806, a 5.61 percent increase. The tax levy for such a home would rise $98, the first increase since FY2010.
To learn more about the FY2014 budget,
click here. (
Ed. Note: You can also read a little more about the changes you'll see in your water bills
here).
Information courtesy of the City of University Park