(Granbury, Tx) – Granbury has one of the lowest property tax rates in the area and it looks like it will stay that way.
After proposing a tax hike to help fund Police Department needs, Granbury City Manager Chris Coffman now says there’s another way for the city to come up with the money. According to the Hood County News, Coffman last week presented the City Council with a proposed budget that included an 8-cent tax increase. To avoid it, Coffman’s new proposal includes trimming departmental budgets where possible and implementing a 1% increase in water and sewer fees.
The initiatives would raise the $845,000 needed to fund five additional full-time officers, one full-time investigator, two new police vehicles and department-wide pay raises. If the City Council signs off on the plan, the property tax rate will remain where it is now, at just under 40 cents per $100 valuation.
The council will vote on the 2019-2020 fiscal year budget and property tax rate in September, to take effect Oct. 1st. Granbury has experienced a 30% growth in population since 2010.