Tax levy will decrease in Aledo
The tax levy for Aledo citizens will decrease in the next fiscal year as the city is levying $6,000 less than the previous year according to City Administrator Robert Mahrt. The Aledo City Council heard the budget overview during the public hearing conducted at the city's committee of the whole meeting Monday night. The tax levy is going from $365,000 to $359,000.
While the tax levy is going down the City of Aledo's budget is rising to $7,010,310, an increase of $1,138,684 from the FY 2013 budget of $5,871,626.
Mahrt said the difference from year to year is based almost entirely on additional amounts budgeted in the TIF Fund totaling $895,750 and an increase in Capital Improvements totaling $173,000. "In prior years the City budgeted only current year TIF revenues and did not include the carry over balance from previous years," said Mahrt.