City sets public hearing on proposed tax rate
The Stephenville City Council approved a proposed tax rate of $0.4420 per $100 valuation at its August meeting.
A public hearing on the proposed tax rate is scheduled for 5:30 p.m. Tuesday, Sept. 14, at the City Council Chambers in City Hall, 298 W. Washington St., according to information on the city's website, www.stephenvilletx.gov
The proposed tax rate is not greater than the voter-approval tax rate. As a result, the city is not required to hold an election for voters may accept or reject the proposed tax rate.
However, residents can express their support for or opposition to the proposed tax rate by contacting the members of the City Council at their offices or by attending the public hearing, the site reads.
According to Monica Harris, city finance director, the no-new-revenue tax rate is the rate for the 2021 tax year that will raise the same amount of property tax revenue for city from the same properties in both the 2020 tax year and the 2021 tax year.
The voter-approval rate is the highest tax rate that the city may adopt without holding an election to seek voter approval.
The proposed tax rate is greater than the no-new-revenue tax rate. This means that city council is proposing to increase property taxes for the 2021 tax year.
• Proposed Tax Rate: $0.4420/$100
• No-New-Revenue Tax Rate: $0.4339/$100
• Voter-Approval Tax Rate: $0.4420/$100
The 86th Texas Legislature modified the manner in which the voter-approval tax rate is calculated to limit the rate of growth of property taxes in the state, according to the city's website.
The following compares the taxes imposed on the average residence by the city last year to the taxes proposed to be imposed on the average residence this year:
• Total tax rate (per $100 of value): $0.4550 in 2020; $0.4420 in 2021; decrease of $-0.0130, or -2.86%
• Average homestead taxable value: $138,373 in 2020; $150,339 in 2021; increase of $11,966, or 8.65%
• Tax on average homestead: $629.60 in 2020; $664.50 in 2021; increase of $34.90, or 5.54%
• Total tax levy on all properties: $6,624,843 in 2020; $6,776,621 in 2021; increase of $151,778, or 2.29%
For help with tax calculations, contact the city tax assessor at (254) 918-1220 or email@example.com, or visit www.stephenvilletx.gov for more information.
How to contact your city council
• Mayor Doug Svien: firstname.lastname@example.org
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