Lubbock City Council to Discuss Omni Building, Hold Proposed Tax Rate Public Hearing Thursday
The Lubbock City Council will meet on Thursday, August 22nd, and will discuss a number of items that may be of interest to Lubbockites.
In their closed-door executive session, they will discuss the City of Lubbock’s lawsuit against Lubbock Omni Office, Inc. regarding a downtown building that poses a risk to citizens in the area.
The Council will also hold the first public hearing regarding the fiscal year 2013-14 proposed tax rate. The FY 2013-14 proposed tax rate is $0.50441 per $100 of home valuation.
The proposed tax rate is 1.23 cents higher than last year’s rate, meaning that if the rate is ultimately approved, a Lubbock homeowner with a $100,000 home would pay another $12.30 in property taxes.
The first public hearing is scheduled for 6:30 p.m. Thursday and all Lubbock citizens are welcome to come voice their thoughts on the tax rate to the Council.
The second public hearing regarding the proposed tax rate is scheduled for Thursday, August 29th at 6:15 p.m. The first public hearing over the City’s proposed budget is also scheduled for Thursday, August 29th at 6:15 p.m.
According to documents from the City, the average taxable value of a residence homestead in Lubbock last year was $114,840, and the average value will grow to almost $116,000 for the 2013-14 fiscal year.
If the proposed tax rate is approved by the Council, the amount of taxes imposed on the average home by the City would be $584.73, up from the current fiscal year’s $568.81.
Lubbock Mayor Glen Robertson has proposed a half-cent cut to the funding for Market Lubbock in the budget, which would cut their proposed funding by $612,000.
During their work session, the Council will discuss a number of items regarding the search for a new city manager, including a possible decision on whether the search will be done by a private firm or by the City’s Human Resources department.
They will also hear the quarterly presentation on financial activities by groups such as Market Lubbock, Inc. and Lubbock Economic Development Alliance, Civic Lubbock, Inc., three tax increment finance reinvestment zones, and the 2009 bond election committee.
Lastly, the Council may also discuss and possibly take action on the City’s emergency response plan and its early warning systems for severe weather alerts to the general public.
We’ll bring you more on the meeting on Thursday night.