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The original item was published from 8/9/2021 11:34:00 AM to 8/9/2021 11:39:45 AM.

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Posted on: August 9, 2021

[ARCHIVED] NOTICE OF MEETING TO VOTE ON TAX RATE

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A public meeting to vote on the proposed tax rate will be held on Sept. 7, 2021 at 6 pm at Granbury City Hall, (116 W. Bridge St., Granbury). The proposed tax rate is not greater than the no-new revenue tax rate. This means that the City of Granbury is not proposing to increase property taxes for the 2021 tax year.

PROPOSED TAX RATE 0.386965 per $100

NO-NEW REVENUE TAX RATE 0.386965 per $100

VOTER-APPROVAL TAX RATE 0.732765 per $100

The no-new-revenue tax rate is the tax rate for the 2021 tax year that will raise the same amount of property tax revenue for the City of Granbury from the same properties in both the 2020 tax year and the 2021 tax year.

The Voter-approval tax rate is the highest tax rate that the City of Granbury may adopt without holding an election to seek voter approval of the rate.

The proposed tax rate is also not greater than the voter-approval tax rate. As a result, City of Granbury 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 Granbury at their offices or by attending the public meeting mentioned above.

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

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

FOR the proposal: Jim Jarratt, Eddie Rodriguez, Trish Reiner, Tony Mobly, Bruce Wadley, Greg Corrigan

Bruce Wadley, Greg Corrigan

AGAINST the proposal: None

PRESENT and not voting: None

ABSENT: None

The 86th Texas Legislature modified the way the voter-approval tax 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 Granbury last year to the taxes proposed to be imposed on the average residence homestead by City of Granbury this year:

                                                                                2020                                           2021                           Change

Total Tax Rate (per $100 of value):                 0.396117                                    0.386965                   Decrease of -$0.009152, or -2.31%

Average homestead taxable value                 $253,915                                    $278,253                    Increase of $24,338, or 9.59% 

Tax on average homestead                            $1,005.80                                   $1,076.74                   Increase of $70.94, or 7.05% 

Total tax levy on all properties                        $5,748,103                                 $5,895,938                 Increase of $147,835, or 2.57%


For assistance with tax calculations, please contact the tax assessor for City of Granbury at 817-573-1114 or ccoffman@granbury.org or visit www.granbury.org for more information.

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