State law requires that all taxing jurisdictions participate in the process of Truth-In-Taxation. When a proposed property tax rate exceeds the lower of 100 percent of the No New Revenue rate or the Voter Approval rate, the Council must adopt a maximum proposed tax rate that it will consider. State law requires that the vote to adopt a proposed maximum rate must be a roll call vote, indicating any absences from the dais. Even though the Council votes to consider a proposed tax rate above the No New Revenue rate, the Council may, as a result of deliberations, adopt a tax rate at or below the rate stated in the published notices.
The City of Georgetown collects sales taxes in lieu of property taxes for Operations and Maintenance. The following rates are based on the tax code’s calculation for property tax rates adjusted for sales tax. The No New Revenue Rate is $0.389738. The Voter Approval Rate is $0.418013. The proposed tax rate for 2020 (FY2021) of $0.418000 is greater than the No New Revenue Rate. Therefore, the City Council will publish notices and hold a public hearing.
This is a vote to set the maximum property tax rate of $0.418000 cents per $100 valuation, equaling $0.193182 cents for Maintenance and Operation and $0.224818 cents for Debt Service, and adopt the tax rate as an action item at the September 8, 2020 Council meeting to be held at 6 p.m. at City Council Chambers, at 9th and Martin Luther King Jr Streets, Georgetown, TX.
This is a record vote, meaning the voting record for this item will be published with the required notices. This item only sets the item to be voted on and does not commit Council to adopting the proposed rate.
The Williamson Central Appraisal District (WCAD) certified the tax roll on July 22, 2020, and City staff have worked with the Williamson County Tax Assessor Collector’s office to calculate the tax rates according to the tax code.