Notice of Tax Revenue Increase

The City of Lago Vista conducted public hearings on Sep. 1, 2016 and Sep. 8, 2016 on a proposal to increase the total tax revenues of the City of Lago Vista from properties on the tax roll in the preceding year by 6.84 percent.  The total tax revenue proposed to be raised last year at last year’s tax rate of $0.65 for each $100 of taxable value was $4,422,051.  The total tax revenue proposed to be raised this year at the proposed tax rate of $0.65 for each $100 of taxable value, excluding tax revenue to be raised from new property added to the tax roll this year, is $4,686,464.
 
The total tax revenue proposed to be raised this year at the proposed tax rate of $0.65 for each $100 of taxable value, including tax revenue to be raised from new property added to the tax roll this year, is $4,813,381.
 
The City of Lago Vista is scheduled to vote on the tax rate that will result in the tax increase at a public meeting to be held on Sep. 29, 2016 at 5803 Thunderbird, Lago Vista, TX at 6:30 PM.
 
The City of Lago Vista proposes to use the increase in total tax revenue for the purpose of maintenance and operations.

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