By Megan Wehring
DRIPPING SPRINGS – It’s that time of the year again – budget season.
On July 19, the Dripping Springs City Council unanimously approved to set the proposed ad valorem tax rate at $.19 per $100 valuation. While the council decided to keep the proposed rate the same as the existing one, it will not adopt the rate until a later meeting.
“We may have to adopt a lower tax rate,” said Shawn Cox, Finance Director. “That is all well and good. If we [set the proposed rate] at $.19, we can always adopt a lower tax rate when it comes time to vote on the rate. We are not proposing to adopt a higher rate.”
The city has not yet received its 2022 Tax Rate Calculation Worksheet from the Hays County Tax Assessor-Collector, but it is expected that the voter-approved tax rate will be below the proposed $.19.
“Even if we do adopt a lower rate, it should not negatively affect our budget,” Cox explained.
A tax rate public hearing is scheduled for Aug. 16 and the council is currently set to consider the adoption and ratification of the tax rate on Sept. 6.
