The Princeton City Council on Monday adopted the second and final reading of an ordinance establishing tax rates.
The property tax rate for the tax year 2021 is set at 16.9 cents per $100 of assessed value. The personal property tax rate for the tax year 2021 is set at 17.38 cents per $100 of assessed value.
According to the ordinance, taxpayers can receive a 2% discount if taxes are paid between Nov. 1, 2021, and Nov. 30, 2021.
The Caldwell County sheriff collects both city and county taxes, and city taxes are included in residents’ county tax bills, according to the council.
In other business. Mayor Dakota Young updated the council on the annual Halloween scavenger hunt.
“It’s going to be the same general concept as last year, however, we will have a new story that we’ll be releasing details about leading up to Halloween,” Young said.
Young and Stacey Boone, along with the Princeton Rotary Club, are coordinating the event. The scavenger hunt is scheduled for Oct. 30.
Young said the city council is encouraging Princeton residents to celebrate Halloween on Oct. 30 this year, joining citywide celebrations and activities.
He said having Halloween coincide with the scavenger hunt on Saturday allows families to indulge without the worry of school on Monday.
Young also reported part of the $500,000 appropriated for repaving projects is going toward city-maintained alleys. All 25 city alleys are getting repaved, he added.
Repaving projects at Cedar Hill Cemetery are a part of the ongoing paving improvements and maintenance, Young said. He noted its parking lot is getting repaved as well.
Fourteen streets throughout the city are getting repaved as well.
“As recent as 2015, we were on a 67-year paving cycle,” Young said, adding the city will be on a 12-year paving cycle starting in 2025.
Young advocated the city devote efforts and investment to rehabilitating the sidewalk system in the coming years.
Councilwoman Pat George gave a water commission report. She said most city fire hydrants have received flow testing, a waterline project is complete, land acquisition efforts are underway, and the commission remains fiscally sound.
Councilman Jim Joiner reported the Princeton Electric Plant Board is operating at 98.2% equivalent availability factor.
Joiner gave an airport board update. He reported the rotating beacon and tower will get replaced this year.
He added a $200,000 grant proposal may fund a maintenance building that primarily functions as a plane repair facility.