The city will hold a special meeting Thursday to discuss the possibility of incurring more debt in Fiscal Year 2025.
The session starts at 6 p.m. at City Hall, 400 Porter St.
According to an agenda, Jennifer Ritter of Specialized Public Finance Inc. will discuss the role of debt in municipal financing and municipal debt loads, as well as provide comparisons with other cities in Central Texas.
Specialized Public Finance is Taylor’s financial advisor, and Ritter has been working on the city’s accounts since 2004.
According to the agenda, her presentation will demonstrate how much additional money Taylor can borrow based on projected population growth, and why taking on debt is the preferred way to pay for infrastructure.
The tax rate the city must charge local property owners to pay its debt is higher than most neighboring cities, officials said.
This year’s tax rate of 59 cents per $100 valuation includes 28 cents for interest and sinking — or debt service — payments.
While the area has seen a decrease in overall tax rates in recent years, council members have approved a figure resulting in a higher property-tax payment for most home and business owners, according to records.
Also, City Engineer Jacob Walker of HDR will give a presentation on capital-improvement projects the city would like to tackle using bond funds.
Projects under consideration include about $19.5 million for street maintenance, sidewalks and streetscapes, drainage, parks, facilities and a new fire engine.
The council is being asked to hold a workshop to give city staffers direction on a new bond initiative for the fiscal year.
