County commissioners lower tax rate, approve sale of federal building

Published: Aug. 12, 2014 at 1:53 AM CDT
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LUBBOCK, TX (KCBD) - And while the city is considering a property tax rate hike, Lubbock County commissioners approved lowering the tax rate on Monday.

The lower rate would save the average home owner around $4.60.

It's the second year in a row commissioners have lowered taxes.

The new rate should take effect in October.

Commissioners also approved the sale of the old federal building downtown on Monday.

They're now waiting for the buyer to sign off on the deal.

The selling price is $425,000.

The developer says he's excited about a revitalized downtown.

John Thompson tells us they don't have specific plans in place, but the building could be used for offices, apartments, and a restaurant.

John says he and his partners would like to do more projects in Lubbock.

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