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Meeting to Adopt 2020 Property Tax Rate

CITY OF GLEN ROSE

NOTICE OF MEETING TO VOTE ON TAX RATE

 

              PROPOSED TAX RATE:                      $0.384074 per $100

              NO-NEW-REVENUE TAX RATE:     $0.39130   per $100

              VOTER-APPROVAL TAX RATE:     $0.47823    per $100

 

The no-new-revenue tax rate is the tax rate for the 2020 tax year that will raise the same amount of property tax revenue for the City of Glen Rose from the same properties in both the 2019 tax year and the 2020 tax year.

 

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

 

The proposed tax rate is not greater than the no-new-revenue tax rate.  This means that the City of Glen Rose is not proposing to increase property taxes for the 2020 tax year.

 

A public meeting to vote on the proposed tax rate will be held on September 14, 2020 at 5:30 p.m. at City Hall at 201 NE Vernon Street.

 

The proposed tax rate is also not greater than the voter-approval tax rate.  As a result, the City of Glen Rose is not required to hold an election to seek voter approval of the rate.  However, you may express your support for or opposition to the proposed tax rate by contacting the members of the City Council of City of Glen Rose at their offices or by attending the public meeting mentioned above.

 

Your taxes owed under any of the above rates can be calculated as follows:

 

Property tax amount = tax rate x taxable value of your property / 100

 

Chris Bryant, FOR; Julia Douglas, FOR; Johnny Martin, FOR; Jack Johnson, FOR; and, Richard Vaughn, FOR. 

 

The 86th Texas Legislature modified the manner in which 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 the City of Glen Rose last year to the taxes proposed to be imposed on the average residence homestead by the City of Glen Rose this year:

 

20192020CHANGE
TOTAL TAX RATE (PER $100 VALUE)0.3840740.384074$0.00000
AVERAGE HOMESTEAD TAXABLE VALUE$155,120.00$166,107.00$10,987.00
TAX ON AVERAGE HOMESTEAD$595.78$637.97$42.19
TOTAL TAX LEVY ON ALL PROPERTIES$766,314.00$734,450.00-$31,864.00

 

For assistance with tax calculations, please contact the tax assessor for the City of Glen Rose at (254) 897-4094 or somervellcad@yahoo.com, or visit www.somervellcad.net for more information.