The Bishop City Council met last week and unanimously set a proposed tax rate of 91.3972 cents per $100 in taxable value, which is the effective tax rate, for the 2010-2011 fiscal year.

According to City Secretary Cynthia Contreras, the effective tax rate generates the previous year’s revenue using the county’s newest property values. KISD

“We lost over $10 million dollars in appraised value this past year,” she said. “We went with the effective tax rate in order to be where we need to be and break even with last year’s revenue.”

The effective rate is neither a tax increase nor a decrease when applied to the current taxable value.

Last year’s tax rate was 80.9411 cents per $100 in taxable value.