Alongside acceptance of Brian Futrell’s resignation, Cadiz City Council opted Wednesday afternoon to accept second readings of the ad valorem tax rate — bringing more clarity to the fiscal year 2025 budget.
This means constituents will pay 20.4 cents per $100 of assessed valuation for real property and 34.1 cents per $100 of assessed valuation for personal property — a decrease for real, but an increase for personal from 2023-24.
Collected through December 30, a 10% penalty will be assessed upon all bills not paid by December 31 — plus an interest rate of 1% per month, or fraction of a month, until said taxes are paid in full. All previous year’s delinquent taxes will accrue interest at 1% per month until paid in full.
Furthermore, motor vehicle and watercraft tax will remain the same as last year, at 26.2 cents per $100 of assessed value.
