RAYMONDVILLE — The tax rate might go up by as much as 1.8 cents to help fund a $2.2 million street project.
The city is considering increasing its property tax rate of 75 cents per $100 of property valuation by 1.5 to 1.8 cents if it does not secure a low interest rate when it borrows $2.2 million to fund the biggest street project in 15 years, Mayor Gilbert Gonzales said yesterday.
The proposed tax increase would generate an additional $33,000 each year.
Last week, Gonzales mistakenly announced the city was considering a half-cent tax increase such as the one approved to help fund the city’s last major street project in 2003.
A tax increase of 1.5 cents is equal to $15 for every $100,000 of property valuation.
The city is counting on landing a low interest rate when it sells $2.2 million worth of certificates of obligation in June, Gonzales said.
Tonight, city commissioners are expected to go ahead with the project to pave about 36 streets.
The streets were selected for repair based on criteria including street conditions, traffic volume, proximity to major thoroughfares and schools and residents’ complaints.
In tonight’s meeting, commissioners are expected to discuss the project’s financial, legal, engineering and construction services.
The certificates of obligation will be sold after the city pays off bonds sold in 2003 to fund a $1.5 million street program.
In the last few months, the new street program’s price tag has climbed as officials planned for the project.
Originally, officials were planning on a $1.4 million to $1.6 million project.
Then in January, the city-contracted firm Ambiotec Civil Engineering presented a $2 million estimate for the project.
- Canal Avenue from North First Street to North Fifth Street
- North Third Street from Canal Avenue to West San Francisco Avenue
- Durango from North Fifth Street to North Sixth Street
- Sonora from North Fifth Street to North Sixth Street
- Tampico from North Fifth Street to North Sixth Street
- North Fifth Street from Sonora Avenue to West San Francisco Avenue
- Monterrey Street from Sonora Avenue to West San Francisco Avenue
- North Sixth Street from Canal Avenue to West San Francisco Avenue
- North Second Street from Sauz to 186 intersections and Yturria to Sauz
- North Fourth Street from San Francisco Avenue to Sauz
- North Fourth Street from Main Street to Raymond Avenue
- North Sixth Street from West San Francisco Avenue to Sauz
- North Sixth Street from Sauz to Main Street
- West Sauz from Monterrey to railroad tracks
- North Eighth Street from Main Street to 186
- South Gorman Street from 186 to Fox
- West Rodriguez Avenue from South Third Street to Fourth Street
- South Fifth Street from 186 to Kimball
- West Kimball from North Fifth Street to North Sixth Street
- South Fifth Street from White Avenue to Wood Avenue
- West Wood from Washington to railroad tracks
- South Sixth Street from Gem Avenue to Wood Avenue
- East Sauz from North Seventh to North 10th Street – intersections only
- North Ninth Street from Sauz to East Main Street
- North Ninth Street from East Main Street to East Harris
- East Raymond from North Seventh to North 10th Street
- South 12th Street from McCharren Avenue to Wood Avenue
- South 13 Street from Norman Avenue to Wood Avenue
- South 15th Street from Kimball Avenue to Gem Avenue
- Rodeo Avenue from 15th to 16th Street
