Notice of Public Hearings on Tax Rate Increase
NOTICE OF PUBLIC HEARINGS
TAX RATE INCREASE
NOTICE OF 2O18 TAX YEAR
PROPOSED PROPERTY TAX RATE
FOR CITY OF PETERSBURG
The City of Petersburg, Texas will hold two public hearings on a proposal to increase total tax revenues from properties on the tax roll in the preceding tax year by 2.90%. Your individual taxes may increase at a greater or lesser rate, or even decrease, depending on the change in taxable value of your property in relation to the change in taxable value of all other property and the tax rate that is adopted.
A tax rate of $0.9429 per $100 valuation has been proposed for adoption by the governing body of the City of Petersburg. This rate exceeds the lower of the effective rate or the rollback tax rate, and state law requires that two public hearings be held by the governing body before adopting the proposed tax rate. The City of Petersburg will use the additional revenue for general operations.
PROPOSED TAX RATE $0.9429 PER $100
PRECEDING YEAR’S TAX RATE $0.9429 PER $100
EFFECTIVE TAX RATE $0.9202 PER $100
ROLLBACK TAX RATE $0.9938 PER $100
The effective tax rate is the total tax rate needed to raise the same amount of property tax revenue for the City of Petersburg from the same properties in both the 2017 tax year and the 2018 tax year.
The rollback rate is the highest tax rate that the City of Petersburg may adopt before voters are entitled to petition for an election to limit the rate that may be approved to the rollback rate.
YOUR TAXES OWED UNDER ANY OF THE ABOVE RATES CAN BE CALCULATED AS FOLLOWS:
property tax amount + (rate) x (taxable value of your property) /100
For assistance or detailed information about tax calculations please contact:
Hale County Tax Assessor/Collector
521 Broadway Street
Plainview, Texas 79072-8029
806-291-5276 E-mail: email@example.com
You are urged to attend and express your views at the following public hearings on the proposed tax rate:
The first public hearing will be held on August 28th, 2018 at 6:30 p.m. at City Hall located at 1524 Main Street, Petersburg, Texas.
The second public hearing will be held on September 4th, 2018 at 6:30 p.m. at City Hall located at 1524 Main Street, Petersburg, Texas.
The members of the governing body who voted on the proposal to consider the tax increase are as follows:
FOR: Gilbert Gonzales, Kim Porter, Rosa Marroquin, and Nancy Horn
ABSENT: Wayne Mulanax
not voting Susie Martinez – Mayor
The average taxable value of a residence homestead in the City of Petersburg last year was $44,402. Based on last year’s tax rate of $0.9429 per $100 of taxable value, the amount of taxes imposed last year on the average home was $418.67.
The average taxable value of a residence homestead in the City of Petersburg this year is $45,142. If the governing body adopts the effective tax rate for this year of $0.9202 per $100 of taxable value, the amount of taxes imposed this year on the average home would be $415.39.
If the governing body adopts the proposed tax rate of $0.9429 per $100 of taxable value, the amount of taxes imposed this year on the average home would be $425.64