The water supply districts in Lantana are proposing lower property tax rates for the next fiscal year.
Fresh Water Supply District No. 7’s proposed rate is to reduce the rate from 95 to 90 cents per $100 of valuation. FWSD No. 6 is proposed to be reduced from 95 to 85 cents. Both boards will vote on the tax rates on Sept. 17.
“The boards have been very fiscally conservative and have taken every opportunity to reduce the tax rate,” said District Controller Richard Harned. “All the bonds have been sold to pay back the developer, so now we’re in the middle point of paying off debt and hoping the appraised value stays the same or rises a little so we can continue to reduce the debt.”
On a $400,000 house in Lantana, the proposed reduced tax rate would mean a savings of about $200 a year in District 7 and $400 in District 6. Harned said District 6 is able to lower its rate more than 7 because it began development before 7 and is closer to being built out.
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