The city’s property tax rate is 67 cents per $100 of value appraised for tax purposes. The staff, for purposes of discussion, estimated each penny of tax rate raises about $11.4 million of revenue. “I’m not recommending a 7 cent increase in property tax, just so you know,” Chapa told council members. Commercial valuations rose, as did valuations for new residential construction, but existing residential valuations dropped, the city staff said. Even if the city raises the tax rate, it wouldn’t necessarily raise property owners’ tax bills, because of the flat and sometimes lower individual valuations.