Canyon sets new tax rate resulting in 7% increase of income for the city
Published: Aug. 28, 2023 at 5:07 PM CDT|Updated: Aug. 28, 2023 at 6:16 PM CDT
CANYON, Texas (KFDA) - Canyon council members set a property tax rate today that will result in a seven percent increase of income.
The actual rate will go from 40 to 39 cents per $100 of taxable value.
However, because of new property and higher appraisals, the city will take in almost $500,000 more than this year.
The rate is the highest they can set without triggering an election.
A public hearing was held before the vote, but nobody spoke.
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