La Marque City Council Approves Budget with 2-Cent Property Tax Increase
KHOU 11October 5, 20251 min269 views
2 connections·3 entities in this video→Budget Approval and Tax Increase
- 🏛️ The La Marque City Council has approved the budget for the upcoming fiscal year.
- 📈 This budget includes a slight property tax increase of two cents per $100 of evaluation.
Rationale for Tax Hike
- 🗣️ Mayor Pro-Tem Joe Compian explained that the two-cent increase is the minimum needed to maintain the city's credit rating.
- 🤝 The increase is also intended to uphold commitments to the community regarding transparency and visibility of city actions.
Financial Context
- 📉 The decision follows a report from the interim city manager indicating the general fund reserves were nearly depleted, down to $1.2-$2 million.
- ⚠️ This level is significantly below the recommended reserve of approximately $5 million.
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La Marque City CouncilCity BudgetProperty Tax IncreaseCredit RatingGeneral Fund ReservesFiscal Year Budget
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