SAN ANGELO, Texas — The San Angelo City Council voted to take a portion of the City’s property tax to the new street fund. The tax rate will remain the same and a portion of the proceeds will go towards the fund.
The current city tax rate is .776 percent and the amount going towards the street fund will be .006 percent. The Texas Constitution requires local taxing units to make taxpayers aware of tax rate proposals in order to give them a chance to limit tax increases. The tax rate has not changed from .776 since 2014.
“The City can choose to use the funds allocated within the street fund to offset another larger project that they might need this amount for to help surface debt for street improvements and reconstruction,” City of San Angelo Financiak Director, Tina Dierschke said.
The City of San Angelo does not determine the total property tax bill. The Tom Green County Appraisal District sets the valuation and three taxing entities set the property tax rates. The three taxing entities are San Angelo Independent School District, Tom Green County and the City.
Dierschke says the new street fund will be used to make improvements in the city’s infrastructures and lessen the burden on other revenue sources.
"So far we haven't discussed any uses for the street fund but the $325,000 allocated from this year’s tax rate will build up as our tax share and physical year go forward,” Dierschke said.
The new street fund will cover the costs of new projects, maintenance and debts in the City of San Angelo. The portion of the tax rate began accumulating into the street fund at the beginning of October of this year.