Fair Oaks cuts property tax rate for fourth year

Fair Oaks Ranch is reducing its property tax rate for the coming year, the fourth consecutive year of reduction due to ever-increasing property values among its residents.

The city’s proposed budget contains a $0.2853 per $100 valuation, a decrease of more than 5% from last year’s property tax rate of $0.3005.

“This proposed budget incorporates a $0.0152 reduction in the city’s overall property tax rate and encompasses all the service delivery and capital investment initiatives established by the City Council,” said Scott Huizenga, city manager, following the council's budget vote at its Aug. 15 meeting.