Tyler City Council Approves New Budget

TYLER – The Tyler City Council has formally adopted its 2018-2019 operating budget. Sales tax makes up 42 percent of the general fund, providing public services such as police, fire, library, and parks. According to our news partner KETK, Tyler is currently projecting a one percent growth in sales tax revenues. Property taxes make up 30 percent of Tyler’s general fund revenues. The council has approved an increase from the current property tax rate of 24 cents to 24.4452 cents per $100 valuation. The new rate means a home valued at $150,000 would be assessed city property taxes of approximately $360 per household per year, or $30.55 per month. The .4452 cent increase would translate to $6.68 annually.