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NOTICE OF PUBLIC HEARING ON TAX INCREASE

NOTICE OF PUBLIC HEARING ON TAX INCREASE

This notice only applies to a taxing unit other than a special taxing unit or municipality with a population of less than 30,000 regardless of whether it is a special taxing unit.

Proposed Tax Rate                      $.548952 per $100

No-New-Revenue Tax Rate   $.511747 per $100

Voter-Approval Tax Rate         $.548952 per $100

The no-new-revenue tax rate is the tax rate for the 2023 tax year that will raise the same amount of property tax revenue for CITY OF SMITHVILLE from the same properties in both the 2022 tax year and the 2023 tax year.

The voter-approval rate is the highest tax rate that CITY OF SMITHVILLE may adopt without holding an election to seek voter approval of the rate.

The proposed tax rate is greater than the no-new-revenue tax rate. This means that CITY OF SMITHVILLE is proposing to increase property taxes for the 2023 tax year.

A PUBLIC HEARING ON THE PROPOSED TAX RATE WILL BE HELD ON September 6, 2023 at 5:30 P.M. in the Council Chambers of City Hall, 317 Main Street, Smithville, TX 78957.

The proposed tax rate is not greater than the voter-approval tax rate. As a result, the CITY OF SMITHVILLE is not required to hold an election at which voters may accept or reject the proposed tax rate. However, you may express your support for or opposition to the proposed tax rate by contacting the members of the City Council of the CITY OF SMITHVILLE at their offices or by attending the public hearing mentioned above.

 

YOUR TAXES OWED UNDER ANY OF THE TAX RATES MENTIONED ABOVE CAN BE CALCULATED AS FOLLOWS:

Property Tax amount= (tax rate) X (taxable value of your property)/ 100

The members of the governing body voted on the proposed tax increase as follows:

FOR the proposal: Tom Etheredge, Janice Bruno, Jimmy Jenkins, Tyrone Washington, Mitchell Jameson AGAINST the proposal:

PRESENT and not voting:

ABSENT:

The 86th Legislature modified the manner in which the voter-approvaltax rate is calculated to limit the rate of growth of property taxes in the state.

The following table compares the taxes imposed on the average residence homestead by CITY OF SMITHVILLE last year to the taxes proposed to be imposed on the average residence homestead by CITY OF SMITHVILLE this year.

 

 

2022

2023

Change

Total Tax Rate (per $100 of value)

0.548934

0.548952

Increase of .000018 per $100 or .003%

Average homestead taxable value

$211,533

$235,015

Increase of 11.1%

Tax on average homestead

$1,161

$1,290

Increase of $129 or 11.1%

Total tax levy on all properties

$2,173,936

$2,448,118

Increase of $274,182 or 12.6%

 

For Assistance with tax calculations, please contact the tax assessor for CITY OF SMITHVILLE at 512-332-7266 or ellen.owens@co.bastrop.tx.us, or visit https://bastrop.countytaxrates.com/tax for more information. You may also contact the Finance Director for CITY OF SMITHVILLE at 512-237-3282 x 2122 or cwhite@ci.smithville.tx.us, or visit www.ci.smithville.tx.us for more information.

 

Form 50-876

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