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The original item was published from 8/8/2020 6:32:00 PM to 8/14/2020 9:11:25 AM.

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Posted on: August 8, 2020

[ARCHIVED] NOTICE OF MEETING VOTE ON TAX RATE

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A public meeting to vote on the proposed tax rate will be held on Sept. 1, 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 2020 tax year.

PROPOSED TAX RATE 0.396117 per $100

NO-NEW REVENUE TAX RATE 0.396117 per $100

VOTER-APPROVAL TAX RATE 0.543616 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 Granbury 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 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 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 Granbury at their offices or by attending the public meeting.

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

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

FOR: Nin Hulett, Eddie Rodriguez, Trish Reiner, Tony Mobly,

Bruce Wadley, Greg Corrigan

AGAINST: 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:

                                                                                2019                                           2020                           Change

Total Tax Rate (per $100 of value):                 0.399385                                    0.396117                   Decrease of -$0.003268 OR -0.82%

Average homestead taxable value                 $237,673                                    $253,915                    Increase of $16,242 OR 6.83% 

Tax on average homestead                             $949                                              $1005                        Increase of $57 OR 5.95% 

Total tax levy on all properties                        $5,494,914                                  $5,719,379                Increase of $224,466 OR 4.08%


For assistance with tax calculations, please contact the tax assessor for City of Granbury at 817-573-2471 or eddieroe@hoodcad.net or visit www.hood-cad.org for more information.

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  1. Granbury, Texas Homepage

The City of Granbury

  1. 116 W Bridge Street,

  2. Granbury, TX 76048

  3. Phone: 817-573-1114

  4. Staff Directory

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