The City Manager's Proposed Budget for Fiscal Year 2016-17 as sent to the City Council on July 22, 2016 included a proposal to reduce the property tax rate by $0.0100 from $0.5848 to $0.5748 per $100 of assessed taxable valuation.
During the City Council Budget Workshop held on July 30, 2016, the City Council voted to consider, at a future City Council meeting, a property tax rate proposal not to exceed a maximum rate of $0.5848 per $100 of assessed taxable valuation.
The City Council has scheduled two (2) Public Hearings to receive comments on the proposed property tax rates for Fiscal Year 2016-17 from all Kyle residents, taxpayers, and interested persons.
The two (2) Public Hearings will be held as follows:
- August 17, 2016 at 7:00 p.m., at Kyle City Hall, 100 W. Center Street, Kyle, Texas 78640.
- August 24, 2016 at 7:00 p.m., at Kyle City Hall, 100 W. Center Street, Kyle, Texas 78640.
Adopted Property Tax Rates for Fiscal Year 2015-16:
Maintenance & Operations (M&O): $0.2306 per $100 of assessed taxable valuation
Interest & Sinking (I&S): $0.3542 per $100 of assessed taxable valuation
Total Property Tax Rate: $0.5848 per $100 of assessed taxable valuation
Effective Property Tax Rate for Fiscal Year 2016-17: $0.5444 per $100 of assessed taxable valuation
Rollback Property Tax Rate for Fiscal Year 2016-17: $0.5797 per $100 of assessed taxable valuation
Proposed Maximum Property Tax Rates for Fiscal Year 2016-17:
The property tax rate that the City Council voted on July 30, 2016 to consider, at a future City Council meeting, is a tax rate proposal not to exceed a maximum rate of $0.5848 per $100 of assessed taxable valuation.
Maintenance & Operations (M&O): $0.2495 per $100 of assessed taxable valuation.
Interest & Sinking (I&S): $0.3353 per $100 of assessed taxable valuation.
Total Property Tax Rate: $0.5848 per $100 of assessed taxable valuation.
After taking into consideration all comments received during the public hearings and budget meetings, the City Council is scheduled to make a final decision on the property tax rates for Fiscal year 2016-17 by considering an Ordinance for approval on August 31, 2016 (1st reading) and September 6, 2016 (2nd reading). |