The City of Brownwood is in the unusual position of seeing its appraised property valuation down slightly for the 2012-'13 fiscal year, and as a result, the city's proposed tax rate will be slightly higher than initially proposed.
City Finance Director Walter Middleton said the city's valuation on the tax roll is down by $400,000 — from $717.5 million to $717.1 million — because Brownwood Regional Medical Center is contesting its appraised value. As a result, the appraisal district has placed a "contingency" on the tax roll that lowered the value. Middleton told council members the city's tax rate for the new fiscal year is expected to be 74.63 cents per $100 valuation, up from the initially proposed rate of 74.52 cents per $100 valuation.
Middleton said the small increase will mean "almost nothing" to property owners. A home valued at $100,000 will mean an increase in the annual city tax bill of $1.10.
In other business, the council:
• Authorized City Manager Bobby Rountree to execute an agreement with the Texas Department of Transportation to close various streets and intersections for Brownwood Reunion activities.
• Designated an out-of-service water storage tank a surplus property and authorize its sale as salvage. This is the blue tank on the hill west of 3M, council members were told. It was put in service in the early 1950s and taken out of service in 2006 when a new tank was built at a higher elevation, just behind it. The tank ha structural issues and is of no use to the city, council members were told.