Round Rock Real Estate Residents Enjoy Lower Taxes

According to the Round Rock Leader, the Round Rock City Council will be able to lower the tax rate for the upcoming year (2014) because of the city’s strong economy. The tax rate implemented by City Council members is just a bit lower than last year’s rate.

In the report, city officials said that the city of Round Rock and the Round Rock real estate market enjoy one of the lowest tax rates in the state. Rates remain low because of continued commercial growth and an ongoing revenue from sales tax.

Officials added that sales tax revenue is essential to the city as it lowers dependence on property taxes. It also comprises just over 50 percent of Round Rock’s proceeds for its general fund. One of the city’s major employers, Dell, is anticipated to supply sales tax revenue of around 30%.

The city’s budget, which is just slightly over $144 million, is being directed toward the areas of utilities, general services, and debt. Round Rock real estate continues to increase in value while the city works toward enhancing services and reducing expenditures.

 

 

 

 

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