by BRAD ROLLINS
Existing development along FM 110 could generate as much as $60.7 million in county property tax revenue over the next quarter century, consultants told the Hays County Commissioners Court this morning.
County officials hope to fund the 13¼-mile eastern loop by dedicating some or all of ad valorem tax collected from property owners along the parkway to paying the $48 million estimated construction cost.
Assuming no tax rate increases but a seven-percent increase in appraised values, a so-called Transportation Reinvestment Zone along FM 110 would capture $20 million to $60.7 million in county property taxes depending on how much land the zone encompasses, said Travis Jones of Austin-based public policy consulting firm TXP Inc. The firm was also commissioned to study how much property tax revenue the city of San Marcos could collect from a similar reinvestment zone along FM 110; that analysis is not completed yet.
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