City plans wage increases for employees and small tax rate cut

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Wichita Falls city councilors spent Tuesday afternoon looking at the proposed 2021-2022 city budget.

The total budget is $ 195,986,059, which represents a 6.26% increase over the 2020-2021 budget.

City finance manager Jessica Williams said it looks like a big increase, “but I want to remind you that last year was not a normal year. We have reduced our budget by 4.97 percent. We had no idea of ​​the economic impact of COVID-19. “

Wichita Falls slashed its budget by nearly $ 10 million as it prepared for the impact of COVID-19.

Williams said the last normal year to compare was 2019-20, which was $ 194 million. Compared to that, the proposed new budget is closer to a one percent increase.

City Manager Darron Leiker has proposed to lower the property tax rate slightly from $ 0.7633 per $ 100 of property assessment to $ 0.7609. Even with this reduction, most homeowners will pay more in taxes. This is because property values ​​have increased, so a slightly lowered rate on higher values ​​will always generate more income.

Following:The law may require the city to lower the property tax rate

Property values ​​have increased by about 6.4 percent. While this increase has been dramatic for Wichita Falls, the city has lower values ​​than most other comparable cities, requiring a higher tax rate than some other cities.

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