City tax rate will remain the same

By LOU ANTONELLI
Editor-in-Chief

The Mount Pleasant City Council Tuesday night held a public hearing on the proposed fiscal year 2019-2020 budget and a second public hearing on the tax rate.

Interim City Manager Ed Thatcher said the proposed tax rate is the same as for the current year, .3712 per $100 of property tax valuation. As a result of increased property tax values, this is an effective increase of 7.04 percent.

The tax rate is composed of .2987 for the General Fund, .0696 for Interest and Sinking Fund (bonded indebtedness) and .0029 for the Cemetery Maintenance and Operations Fund.

The proposed city budget is $31,888,120, said Thatcher, which is 2.7 percent less than last year.
“We are able to do this because we had higher than anticipated revenue,” he said,.

The Titus County Appraisal District reports the county’s assessed value as $1,103,066, 270.
“That’s 8.7 percent higher than the previous year,” said Thatcher.