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Tax Hearings Set on Proposed Increase
The City of Georgetown will hold two public hearings in August on the proposed tax rate. The City’s budget for the 2009 fiscal year includes a tax rate that would increase total tax revenues from properties on the tax roll in the preceding tax year by 1.550830 percent. (This is the percentage by which the proposed tax rate exceeds the effective tax calculated under Chapter 26, Tax Code). Your individual taxes may increase at a greater or lesser rate, or even decrease, depending on the change in the taxable value of your property in relation to the change in taxable value of all other property and the tax rate that is adopted.
The first public hearing will be held on August 12 at 6 p.m. at the Council Chamber and Court Building, located at 101 E. Seventh Street in Georgetown.
The second public hearing will be held on August 25 at 4 p.m. at the Council Chamber and Court Building, located at 101 E. Seventh Street in Georgetown.
The members of the governing body voted on the proposal to consider the tax increase as follows:
| For: | Pat Berryman, Patty Eason, Gabe Sansing, Ben Oliver, Dale Ross, and Bill Sattler |
| Against: | none |
| Present and not voting: | none |
| Absent: | Keith Brainard |
The average taxable value of a residence homestead in City of Georgetown last year was $183,970. Based on last year’s tax rate of $0.356590 per $100 of taxable value, the amount of taxes imposed last year on the average home was $656.02.
The average taxable value of a residence homestead in City of Georgetown this year is $193,263. If the governing body adopts the effective tax rate for this year of $0.350780 per $100 of taxable value, the amount of taxes imposed this year on the average home would be $677.93.
If the governing body adopts the proposed tax rate of $0.356220 per $100 of taxable value, the amount of taxes imposed this year on the average home would be $688.44.
Members of the public are encouraged to attend the hearings and express their views.
For further information, contact the Finance and Administration Department at (512) 930-3676 or by email at finance@georgetowntx.org.
To view the current property tax rates, open the .pdf link below.
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Thanks now we can see more money sliced from our pockets!