LAREDO, TEXAS (KGNS) - Webb County taxpayers can prepare for some relief on their tax bills.
County commissioners held the first of two public hearings today on setting a lower tax rate for the next fiscal year.
At the same time the county expects more tax revenue from oil and gas expansion. Webb County Auditor Leo Flores said valuations on mineral properties like oil and gas have increased by as much as 30 percent.
The total tax levy will still increase by $7.5 million, because of the new properties.
The extra levy is an increase of as much as 11.2 percent in one year for county revenues.
The levy in the current fiscal year is $67.1 million. The levy next year is projected at $74.6 million.
If the proposal to bring down the tax rate is approved, the decrease will be the first in more than ten years.
The current proposal is to modify the tax rate from 42.0055 cents in the current fiscal year to 41.4700 in the next.
The difference is 0.5355 cents per every 100 dollars of property value.