PUBLIC HEARING DATES SET TO DISCUSS PROPOSED TAX RATE
The Brenham City Council set the tax rate on Thursday for $47.31 percent one hundred dollars evaluation, and dates were set for public hearings on the proposed tax rate.
Chief Financial Officer Carolyn D Miller and Willy Dilworth of the Washington County Appraisal District say that developing an annual budget and adopting a property tax rate to support that budget must be accomplished in compliance with property tax code, local government code, and City Charter.
During the week of July 20th, Workshops were held to review and finalized the FY 2015-2016 budget. During that time it was noted that there will be a decreasing of the property tax rate of $0.4912 per $100 valuation.
The new property tax rate of $0.4912 consist of maintenance and operations rate of $0.2950 and a debt service rate of $0.1781.
The Washington County Appraisal District experienced a 7.93%, or $87,293,034 increase in total taxable values over 2014.
The increase comprised of $16,168,737, which encompasses a 19% new properties and new improvements, and $71, 124,247, which includes an increase in existing property values.
The new budget includes a proposal to increase the current M&O tax rate from $0.2890 to $0.2950. The combined impact of the increased property values, along with the increase in M&O tax rate will generate an additional tax revenue over the current year of $317,129.
Before the vote, the motion was made as follows:
“I move that the property rax rate be decreased by the adoption of a tax rate of $0.4731 per $100 evaluation, which is effectively a 2.14% increase in the tax rate, to be considered by the governing body on the agendas of the September 14, 2015 and September 17, 2015 meetings, and to schedule public hearing on the proposed tax rate for August 27, 2015 and September 3, 2015, in accordance with state law.”