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Notice Of Public Hearing On Tax Increase

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Notice Of Public Hearing On Tax Increase
Posted on 08/05/2021


NOTICE OF PUBLIC HEARING ON TAX INCREASE

A tax rate of $0.534618 per $100 valuation has been proposed by the governing body of City of College Station.

PROPOSED TAX RATE                   $0.534618 per $100
NO-NEW-REVENUE TAX RATE    $0.518885 per $100
VOTER-APPROVAL TAX RATE     $0.562519 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 City of College Station from the same properties in both the 2020 tax year and the 2021 tax year.

The voter-approval rate is the highest tax rate that City of College Station 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 College Station is proposing to increase property taxes for the 2021 tax year.

A PUBLIC HEARING ON THE PROPOSED TAX RATE WILL BE HELD ON August 12, 2021 AT 06:00 PM AT College Station City Hall Council Chambers, 1101 Texas Ave., Meeting also available via ZOOM Access https://zoom.us/j/96728393278 or via Phone 888-475-4499 webinar ID 967 2839 3278.

The proposed tax rate is not greater than the voter-approval tax rate. As a result, City of College Station 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 College Station at their offices or by attending the public hearing 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:
Mayor Karl Mooney
City Council Place 1 Bob Brick
City Council Place 2 John Crompton
City Council Place 3 Linda Harvell
City Council Place 4 Elizabeth Cunha
City Council Place 5 John Nichols
City Council Place 6 Dennis Maloney

AGAINST the proposal:

NA

PRESENT and not voting:
NA

ABSENT:
NA

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 City of College Station last year to the taxes proposed to be imposed on the average residence homestead by City of College Station this year.

Table

For assistance with tax calculations, please contact the tax assessor for City of College Station at 979-775-9930 or visit https://brazos.countytaxrates.com for more information.


Notice About 2021 Tax Rates


Property Tax Rates in City of College Station
This notice concerns the 2021 property tax rates for City of College Station. This notice provides information about two tax rates used in adopting the current tax year's tax rate. The no-new-revenue tax rate would Impose the same amount of taxes as last year if you compare properties taxed in both years. In most cases, the voter-approval tax rate is the highest tax rate a taxing unit can adopt without holding an election. In each case, these rates are calculated by dividing the total amount of taxes by the current taxable value with adjustments as required by state law. The rates are given per $100 of property value.

This year's no-new-revenue tax rate:     $0.518885/$100
This year's voter-approval tax rate:       $0.562519/$100

To see the full calculations, please visit https://brazos.countytaxrates.com for a copy of the Tax Rate Calculation Worksheet.

Unencumbered Fund Balance
The following estimated balances will be left in the unit's accounts at the end of the fiscal year. These balances are not encumbered by a corresponding debt obligation.

Type of Fund           Balance                                                         
GENERAL FUND             38,209,177                                                 
GENERAL DEPT SERVICES FUND   8,487,089                               

Current Year Debt Service
The following amounts are for long-term debts that are secured by property taxes. These amounts will be paid from upcoming property tax revenues (or additional sales tax revenues, if applicable).

Table

Total required for 2021 debt service: $44,581,131
- Amount (if any) paid from funds listed in unencumbered funds: $0
- Amount (if any) paid from other resources: $23,939,505
- Excess collections last year: $0
= Total to be paid from taxes in 2021: $20,641,626
+ Amount added in anticipation that the unit will collect only 100.00% of its taxes in 2021: $0
= Total debt levy: $20,641,626

This notice contains a summary of actual no-new-revenue and voter-approval calculations as certified by Kristeen Roe, CTA, PCAC, Brazos County Tax Assessor/Collector on August 3, 2021.
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