Laguna Vista leaders are proposing a cut to the property tax rate.

The rate would drop from 45 cents to 43 cents for every $100 of property value.

Laguna Vista Mayor Michael Carter said the town has kept spending down while still paying for projects like park improvements and work at city hall.

"We've funded those projects, and now we still have over a 290-day fund balance available. So, it's time to give back to the taxpayer and not have them just put money in a piggy bank that we're not using," Carter said.

The rate is not final yet. Council members are expected to take a final vote by the end of September.