HomeMy WebLinkAboutItem 01 - Ad Valorem Tax RateTruth in Taxation requirement for tax rate public hearing
Comparison of Residence Homestead Values
Average appraised and taxable values on residence homesteads are compared from the preceding tax year and the current
tax vear.
Preceding Tax Year
Current Tax Year
Average residence homestead appraised value $194,047
$203,854
Homestead exemption amount for the taxing unit $38,809
$40,770
(excluding special exemptions for persons 65 years of age or older or disabled)
Average taxable value of a residence homestead $155,238
$163,084
(excluding special exemptions for persons 65 years of age or older or disabled)
Comparison of Residence Homestead Taxes
The taxes that would have been imposed in the preceding tax year on a residence homestead at the average appraised
value (excluding special exemptions for persons 65 years of age or older or disabled) are estimated to be $562.74.
The taxes that would be imposed in the current tax year on a residence homestead appraised at the average appraised
value in the current tax year (excluding special exemptions for persons 65 years of age or older or disabled), if the
proposed tax rate is adopted, are estimated to be $591.18. The difference between the amount of taxes on the
average residence homestead in the current tax year, if the proposed tax rate is adopted, and the preceding tax year
would be an increase of $28.44 in taxes.
* "Appraised value" is the amount shown on the appraisal roll and defined by Section 1.04(8), Tax Code.
** "New property" is defined by Section 26.012(17), Tax Code.
*** "Taxable value" is defined by Section 1.04(10), Tax Code.