City of Roma Sets Property Tax Rate for 2024-2025
The City of Roma has officially set its property tax rate for the fiscal year spanning from October 1, 2024, to September 30, 2025, following careful consideration and a public hearing held on August 29, 2024. Here’s what residents and property owners in Roma need to know about this year’s tax rate and how it impacts city funding.
Key Highlights of the 2024-2025 Property Tax Ordinance
- Tax Rate Set at $0.5679 per $100 Valuation
The City Council established the new property tax rate at $0.5679 per $100 of assessed valuation. This rate supports the budget for essential city services and operational costs while also addressing the city’s debt obligations. - Allocation of Tax Rate
The tax rate is split to cover both the city’s maintenance and operations (M&O) and debt service:- $0.4991 (Maintenance and Operations): Funds essential city services, including public safety, parks, and infrastructure.
- $0.0688 (Debt Service): Earmarked for repaying city debt, ensuring Roma meets its financial obligations responsibly.
No Election Required for Tax Rate Adjustment
Although the new tax rate exceeds the no-new-revenue rate, it does not surpass the voter-approval rate, meaning no election is required for its implementation. This decision enables the city to maintain adequate funding without increasing the burden on taxpayers through a public vote, balancing fiscal responsibility with community needs.
City Council’s Decision and Voting Outcome
The ordinance passed with a favorable vote from most council members. Here’s the recorded vote:
- Jaime Escobar, Jr. (Mayor): For
- Gaby Rodriguez (Councilmember): For
- Jose G. Cantu, Jr. (Councilmember): Absent
- Citlali N. Gonzalez (Councilmember): For
- Joel Hinojosa, Jr. (Councilmember): For
What This Means for Roma Residents
With the new tax rate in effect, residents can expect the funds to support city-wide services and projects essential to Roma’s growth and quality of life. The maintenance and operations allocation will contribute to day-to-day city functions, while the debt service portion is a proactive measure for managing city finances and future initiatives.
When Does This Ordinance Take Effect?
The ordinance was passed and approved on September 5, 2024, and is now in effect, ensuring a smooth transition into the new fiscal year.
For more information on property taxes or to see how your property is affected, please contact the City of Roma at 956-849-1411.