The City of Canyon will hold two public hearings on a proposal to increase total tax revenues August 17, 2009 and August 31, 2009.
The City of Canyon 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 5.5% percent (percentage by which proposed tax rate exceeds lower of rollback tax rate or effective tax rate calculated under Chapter 26, Tax Code). Your individual taxes may increase at a greater or lesser rate, or even decrease, depending on the change in the taxable value of your property in relation to the change in taxable value of all other property and the tax rate that is adopted.
The first public hearing will be held on August 17, 2009, 5:30 pm at 301 16th Street, City Commission Chambers.
The second public hearing will be held on August 31, 2009, 5:30 pm at 301 16th Street City Commission Chambers.
The members of the governing body voted on the proposal to consider the tax increase as follows:
FOR: Commissioners Jed Welch, Jon Behrens, Gary Hinders,
AGAINST:
PRESENT and not voting:
ABSENT: Mayor Quinn Alexander, Commissioner David Logan
The average taxable value of a residence homestead in the City of Canyon last year was $ 114,092 (aver¬age taxable value of a residence homestead in the taxing unit for the preceding tax year, disregarding residence home¬stead exemptions available only to disabled persons or persons 65 years of age or older). Based on last year’s tax rate of $.34391 (preceding year’s adopted tax rate) per $100 of taxable value, the amount of taxes imposed last year on the average home was $392.37 (tax on average taxable value of a residence homestead in the taxing unit for the preceding tax year, disregarding residence homestead exemptions available only to disabled persons or persons 65 years of age or older).
The average taxable value of a residence homestead in the City of Canyon this year is $116,600 (aver¬age taxable value of a residence homestead in the taxing unit for the current tax year, disregarding residence homestead exemptions available only to disabled persons or persons 65 years of age or older). If the governing body adopts the effective tax rate for this year of $.34082 per $100 of taxable value, the amount of taxes imposed this year on the average home would be $397.40 (tax on average taxable value of a residence homestead in the taxing unit for the current tax year, disregarding residence homestead exemptions available only to disabled persons or persons 65 years of age or older).
If the governing body adopts the proposed tax rate of $.35962 per $100 of taxable value, the amount of taxes imposed this year on the average home would be $419.32 (tax on the average taxable value of a residence homestead in the taxing unit for the current tax year, disregarding residence homestead exemptions available only to disabled persons or persons 65 years of age or older).
Members of the public are encouraged to attend the hearings and express their views.