SEMINOLE — The property tax rate in this city will remain stable in the coming fiscal year under a budget that council members unanimously approved Tuesday.
The 2012-13 budget of about $14.9 million will be about 5.7 percent, or about $897,000, less than Seminole's current budget. That allows council members to keep the tax rate steady at about $2.48 per $1,000 of assessed, taxable property value for the sixth straight year. The owner of a home valued at $150,000 with a $50,000 homestead exemption will pay about $248 in city taxes. The fiscal year begins Monday.