The Nocona City Council will conduct its first tax rate hearing at 8 a.m. on Aug. 25.
The proposed budget for 2016-2017 uses the same 2015 tax rate of $0.55 per $100 in property value.
The proposed rate includes 0.4914 cents for maintenance and operation and 0.0586 for debt. The city’s debt obligations includes $65,405.82 for a fire command vehicles and self-contained breathing equipment.
The effective tax rate is .5302 cents per $100 in property value, up from .5129 for the 2015-2016 fiscal year. This rate would generate the same tax revenue as last year.
The second hearing will be conducted at 8 a.m. on Sept. 8 with adoption at 8 a.m. on Sept. 14.