The City of Rockport has proposed a $64.3 million budget for the 2025-2026 fiscal year, including a 10% property tax rate increase that would cost the average homeowner an additional $252 per year.
The new rate of $0.45 per $100 valuation, up from last year’s $0.41. The proposed budget includes:
– A 3.5% increase in the maintenance and operations (M&O) rate, the maximum allowed without triggering a rollback election.- A 26% hike in the interest and sinking (I&S) rate to fund infrastructure projects…