The Blanco City Council held a lengthy meeting Feb. 10 and included discussions that will impact the city’s future.
A lengthy discussion was held during the three and a half hour meeting on the repeal and reallocation of the half penny sales tax credit, which has been on council agendas numerous times. The sales tax currently subsidizes the ad valorem taxes of city residents.
The presentation corrected the projected impact amount for property owners. Prior calculations had estimated that the potential impact could be substantially higher. The new corrected calculation is .0005, with ballpark impacts to property owners being lessened by a “power of 10.” Numbers supplied by the city estimated that a property with an assessed value of $300,000 could now see an annual increase of $15 versus $150 that had been calculated previously.
