Killeen Council Keeps Tax Rate

On Tuesday, the Killeen City Council voted to keep the 2012-2013 preliminary property tax rate for the 2013-2014 fiscal year.

Six members voted in favor of keeping the rate at 74.28 cents per $100 assessed property value, with the seventh voting to lower the rate to the effective rate of 73.15 cents.

The effective rate would result in the same revenue generated on property, while keeping the current rate would increase revenue.

The proposed budget includes $8 million less in expenditures than in the previous fiscal year and an ending balance of $19,479,834, which is 26.14 percent of the general fund. The council tries to keep the balance between 22 and 25 percent of the general fund.

Weekly meetings are held at City Hall on Tuesday at 5 p.m., during which residents can express their opinions about the tax rate. The final vote will take place during a public meeting on September 10. Council members can lower the tax rate, but by law cannot raise it from the preliminary rate.