The City Manager's proposed budget for Fiscal Year 2020-2021 as presented at a special-called City Council meeting held on Saturday, August 1, 2020, included a proposal to set the City's ad valorem tax rate (property tax rate) at $0.5201 per $100 assessed valuation.
On August 1, 2020, the City Council unanimously voted to approve a Resolution to consider a proposal on the agenda of a future City Council meeting as an action item to adopt an ad valorem tax rate (property tax rate), not to exceed $0.5201 per $ 100 assessed valuation for tax year 2020 (Fiscal Year 2020-2021).
The City Council has scheduled two (2) public hearings to receive comments from all Kyle residents, taxpayers, and interested persons on the proposed ad valorem tax rate (property Tax rate) for tax year 2020 (Fiscal Year 2020-2021).
The two (2) public hearings on the proposed ad valorem tax rate (property tax rate) have been scheduled as follows:
- August 18, 2020 at 7:00 p.m., at Kyle City Hall, 100 W. Center Street, Kyle, Texas 78640
- August 25, 2020 at 7:00 p.m., at Kyle City Hall, 100 W. Center Street, Kyle, Texas 78640
Adopted Ad Valorem Tax Rate for Tax Year 2019:
Maintenance & Operations (M&O): $0.3154 per $100 assessed valuation
Interest & Sinking (I&S): $0.2262 per $100 assessed valuation
Total Ad Valorem Tax Rate: $0.5416 per $100 assessed valuation
No-New-Revenue Ad Valorem Tax Rate for Tax Year 2020:
Total No-New-Revenue Tax Rate: $0.5292 per $100 assessed valuation
Voter-Approval Ad Valorem Tax Rate for Tax Year 2020:
Maintenance & Operations (M&O): $0.3257 per $100 assessed valuation
Interest & Sinking (I&S): $0.1945 per $100 assessed valuation
Total Ad Valorem Tax Rate: $0.5202 per $100 assessed valuation
Proposed Ad Valorem Tax Rate for Tax Year 2020:
Maintenance & Operations (M&O): $0.3256 per $100 assessed valuation
Interest & Sinking (I&S): $0.1945 per $100 assessed valuation
Total Ad Valorem Tax Rate: $0.5201 per $100 assessed valuation
After taking into consideration all comments received during the public hearings and budget meetings, the City Council is scheduled to make decision on the City's ad valorem tax rate (property tax rate) for Tax Year 2020 (Fiscal Year 2020-2021) on August 18, 2020 (1st Reading of Ordinance) and August 25, 2020 (2nd Reading of Ordinance).
A complete copy of the City's proposed budget for Fiscal Year 2020-2021 and associated documents are available on the City's web page at:
https://www.cityofkyle.com/finance/budget-development-fy-2020-2021
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