Mexico residents will see a lower property tax levy and city employees could see a slightly larger paycheck following last (Monday) night’s meeting of the Mexico City Council.
With assessed property valuation up nearly sixteen million dollars from last year, the council approved a tax rate of 73.77 cents per one hundred dollars assessed valuation, down from last year’s rate of 73.92 cents.
Data provided by the city’s finance department showed tax rates have remained within a cent or two over the last ten years.
The council had already approved raises for city employees at a previous meeting but after discussion last (Monday) night, added additional funds to provide a slightly higher raise.
The additional monies will come from revenue received from the city’s use tax.
In other business, the council approved having Meyer Electric improve runway lighting at the Mexico Memorial Airport and amended the Code of Ordinances regarding renewable energy systems.