Mineola city taxpayers could see a slight decrease in the property tax rate.

The city council reviewed possible tax scenarios in a workshop Monday night.

The tax rate will be formally proposed at the Aug. 28 council meeting.

The current tax rate is 53.5 cents per $100 valuation.

With the city’s property values rising significantly, the city would gain more revenue even with a lower rate.

City Secretary Cindy Karch said the rate that would automatically generate an election is 52.5521 cents while the proposed budget has been calculated on a rate of 51.9144 cents, which would increase revenues by $36,605.

Based on the value of an average home in the city, a resident would see a tax increase of about $100 per year.

The value of an average home in the city shot up from $156,007 last year to $186,153 this year.

The average annual city property tax bill would go from $715 to $815.

Final adoption of the budget and tax rate is set for Sept. 18.

Once a proposed tax rate has been set, the council could not go above that without having an additional set of public notices and hearings.

Watch the Monitor for notices concerning the budget and tax rate.