City of Los Fresnos Property Tax Rate to Remain at $0.715

For the eighth year in a row, Los Fresnos City Commissioners have approved holding the city property tax rate steady at $0.715 per $100 valuation.

Due to increased property values in the area, the effective tax rate was assessed at $0.711 and the rollback ad valorem tax rate was $0.986. Commissioners decided to just keep the tax rate the same and will see an additional $6,284 between the effective tax rate and the current rate.

The 2013 property tax value for the City if $162,480,416. This is an increase of $10,842,804 or 7.15% over 2012 values. Fifty-nine percent of the increase was due to annexation done in December of 2012. Without the annexation, property tax values would have gone up only 2.9% which,of most, is new construction.

Public hearings on the tax rate will be held on August 27 and September 10 as required since the council is keeping the rate the same as the last seven years.

In other action, the council approved $20,000 in funding to continue operation of the Valley Metro Bus service for the next 18 months. The Los Fresnos route has the third highest ridership in the Valley.