The Texas Property Tax Code, Section 26.05 (d), provides that a governing body may not adopt a tax rate that exceeds the lower of the voter approval rate or the no new revenue tax rate until the governing body has held a public hearing on the proposed tax rate and has otherwise complied with Section 26.06 and Section 26.065 of the Texas Property Tax Code. The 2023-2024 proposed budget is based on a tax rate of 68.9746 cents per every $100 of valuation, which exceeds the no new revenue tax rate of 63.6388 cents per every $100 of value.
Proposed Tax Rate
2022-2023
2023-2024
Current
Proposed
Change
O&M
34.1092
31.4146
-7.91 %
Debt Service
37.5600
37.5600
0%
Total Tax Rate
71.6692
68.9746
-3.8%
Recommendation/Action Requested and Justification
An opportunity for public comment regarding the proposed 2023-2024 tax rate will be provided at the August 15, 2023 Regular Meeting, August 22, 2023 Special Meeting and the September 5, 2023, Regular Meeting. The FY 2023-2024 Budget and Tax Rate are scheduled for adoption on September 5, 2023.
