MCALLEN, Texas – Property taxes in the city of McAllen will soon be increasing because of bonds approved by voters in 2018. However, city leaders say homeowners can expect to pay less than expected.
In 2018 the city of McAllen presented voters with a $25 million bond after a citizen survey revealed concerns over drainage and traffic improvements.
Michelle River, Assistant City Manager, “Showing them that it would probably cost them 2 cents on the tax rate to do a $25 million dollar bond and they did pass that bond.”
Voters were proposed with a $2 per month increase based on an average home value of $128,000 but after bonds were purchased home owners will pay nearly 15 percent less.
Rivera says, “Bonding agencies have traditionally looked at our stability and considered us a good risk for credit. I think we get some good credit ratings on our bonds and that allows us to pass on the savings to our residents.”
City officials adding the leadership has been very conservative in their budgets and fiscal spending and say projects funded by the bond are on schedule.
Rivera adds, “We are busy at work with that money every single drainage project that was in bond is under either under design or in the process of getting ready to build plans.”
Assistant City Manager Michelle Rivera adding that city leadership has also been responsive and responsible in addressing citizen’s concerns.