SOUTHLAKE -- The property tax rate would stay the same and city employees would get a cost-of-living increase in the fiscal 2011 budget approved on first reading Tuesday night. The City Council made no changes in the $70 million budget proposed by city staff, adopting it unanimously. The council will have a public hearing and final vote on the budget at its Sept. 21 meeting. The council also voted on first reading to maintain the tax rate at 46.2 cents per $100 of assessed property value. This year would be the eighth without a property tax increase. Fiscal 2011 starts Oct. 1.
Read more: http://www.star-telegram.com/2010/09/08/2454196/budget-with-no-tax-increase-gets.html#ixzz0zWjZjtcJ
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