Somervell County commissioners adopted the 2009-10 tax rate and budget at a special meeting Monday.
The tax rate was adopted at .3571 cents per $100 of taxable value, which will raise additional money for the maintenance and operation budget.
County Judge Walter Maynard said the 7.689988 percent increase is necessary for budget funding.
“Basically we have been under funding the budget for the last three years,” he said. “To keep the taxes low, we’ve been under funding and using the resources we have. This is one more step to get us where we need to be.”
Tax payments will account for approximately $11,593,000 of the $15,890,000 budget. The other $935,362 will be earmarked for bonded indebtedness.
For homes appraised at $100,000, the tax rate will amount to an approximate increase of $25.50 in yearly taxes.
The county held two public hearings on the tax revenue increase on Sept. 14 and Sept. 21, as well as a public hearing for the 2009-10 fiscal year budget on Sept. 28. No residents spoke at any of the hearings.
The budget and the tax rate were both approved unanimously at Monday’s meeting.