PUBLIC NOTICE: FERRIS, TEXAS PUBLIC HEARING ON THE PROPOSED 2020 TAX RATE WILL BE HELD SEPTEMBER 21, 2020
Statements required in notice if the proposed tax rate exceeds the no-new-revenue tax rate but does not exceed the voter-approval tax rate, as prescribed by Tax Code §26.06(b-2).
NOTICE OF PUBLIC HEARING ON TAX INCREASE
A tax rate of $0.6086 per $100 valuation has been proposed by the governing body of CITY OF FERRIS.
PROPOSED TAX RATE: $0.6086 per $100
NO-NEW-REVENUE TAX RATE: $0.5371 per $100
VOTER-APPROVAL TAX RATE: $0.6086 per $100
The no-new-revenue tax rate is the tax rate for the 2020 tax year that will raise the same amount of property tax revenue for CITY OF FERRIS from the same properties in both the 2019 tax year and the 2020 tax year. The voter-approval rate is the highest tax rate that CITY OF FERRIS 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 FERRIS is proposing to increase property taxes for the 2020 tax year.
A PUBLIC HEARING ON THE PROPOSED TAX RATE WILL BE HELD ON September 21, 2020 at 6:00 PM at Ferris City Council Chambers, 215 W 6th St, Ferris, TX.
The proposed tax rate is not greater than the voter-approval tax rate. As a result, CITY OF FERRIS 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 CITY OF FERRIS at their offices or by attending the public hearing mentioned above.
YOUR TAXES OWED UNDER ANY OF THE TAX RATES MENTIONED ABOVE CAN BE CALCULATED AS FOLLOWS:
Property tax amount = (tax rate) x (taxable value of your property) / 100
(List names of all members of the governing body below, showing how each voted on the proposal to consider the tax increase or, if one or more were absent, indicating absences.)
FOR the proposal: Clayton Hunter, Michael Martinez, Tommy Scott, Jay Walsh, Sherie Chapman
AGAINST the proposal:
PRESENT and not voting:
ABSENT:
The 86th 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 FERRIS last year to the taxes proposed to the be imposed on the average residence homestead by CITY OF FERRIS this year.
Total tax rate (per $100 of value) (2019): $0.5998 (2020): $0.6086 (Change): 1% increase
Average homestead taxable value (2019): $128,797 (2020): $138,775 (Change): 8% increase
Tax on average homestead (2019): $773 (2020): $845 (Change): 9% increase
Total tax levy on all properties (2019): $1,098,653 (2020): $1,270,078 (Change): 16% increase
For assistance with tax calculations, please contact the tax assessor for CITY OF FERRIS at 972-825-5150 or john.bridges@co.ellis.tx.us, or visit co.ellis.tx.us.