AMARILLO, Texas (KAMR/KCIT) – The Amarillo City Council discussed the city’s budget for the next fiscal year and a possible increase to the property tax rate as they held the first reading Tuesday for the two subjects.
The City plans to increase its budget by 11.8 million dollars, which is a 22.7% increase from last year’s budget.
Officials said the increased property tax rate will provide more money for maintenance and operations than last year’s rate. If approved the rate will be raised by 24.48%.
The City said it means taxes on a $100,000 home will increase by about $60.45.