Granbury City Council, Sept 1, 2026: FY 2026-2027 Tax rate $ .485 approved

The Granbury City Council held a meeting on September 1, 2026, to discuss and approve the fiscal year 2026-2027 property tax rate. The council approved a tax rate of $0.485 per $100 valuation, representing a 7.73% increase from the previous year. The increase includes funding for capital improvement projects such as energy-efficient infrastructure upgrades and new sports lighting for city athletic fields. Despite the tax rate increase, the city managed to reduce the maintenance and operations portion by 3 cents, resulting in less property tax revenue for the general fund compared to the prior year. The property tax revenue is expected to cover about 22% of the general fund's operating budget and approximately 52% of the public safety budget, as well as the annual debt service payment of $6.8 million. The council conducted a public hearing as required by law due to the tax rate exceeding the no new revenue tax rate and passed the motion with a roll call vote.