During a recent City Council meeting, Kerri Lang detailed the potential request for a property tax increase to address a projected $33.4 million deficit for the upcoming fiscal year. A total of seven council votes are necessary to place the tax increase on the ballot. Given a 2019 Texas law capping increases at 3.5% without voter approval, a tax election is needed to exceed this limit. The committee adopted guidelines that TREs should happen no more than every four years unless urgent circumstances arise.
"This is the first year that the city has faced a deficit, although city financial planners have predicted it for some time."
"Tax rate elections, informally referred to as TREs, should not occur more than once every four years, with exceptions for disasters or significant funding reductions."
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