Local Tax Rates: some raised, some lowered
ELLIS COUNTY – The summer budget and tax rate numbers for the new fiscal year are happening now, here are the proposals that are being presented around the Ellis County area or that have already been part of August public hearings.
ELLIS COUNTY EMERGENCY SERVICES DISTRICT NO. 2 NOTICE OF PUBLIC HEARING WAS HELD ON AUG. 19
This notice only applies to a taxing unit other than a special taxing unit or municipality with a population of less than 30,000, regardless of whether it is a special taxing unit.
Proposed Tax Rate: $0.098000 per $100
No-New-Revenue Tax Rate: $0.090180 per $100
Voter-Approval Tax Rate: $0.100731 per $100
The no-new-revenue tax rate is the tax rate for the 2024 tax year that will raise the same amount of property tax revenue for Ellis County Emergency Services District No. 2 from the same properties in both the 2023 tax year and the 2024 tax year.
The voter-approval tax rate is the highest tax rate that Ellis County Emergency Services District No. 2 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 Ellis County Emergency Services District No. 2 is proposing to increase property taxes for the 2024 tax year.
The proposed tax rate was not greater than the voter-approval tax rate. As a result, Ellis County Emergency Services District No. 2 was not required to hold an election at which voters could accept or reject the proposed tax rate.
RED OAK HELD ITS PROPOSED TAX RATE PUBLIC HEARING ON THURSDAY, AUG. 19
A tax rate of $0.696886 per $100 valuation was proposed by the governing body of City of Red Oak.
Proposed Tax Rate: $0.696886 per $100
No-New-Revenue Tax Rate: $0.666016 per $100
Voter-Approval Tax Rate: $0.691873 per $100
De Minimis Rate: $0.696886 per $100
The no-new-revenue tax rate is the tax rate for the 2024 tax year that will raise the same amount of property tax revenue for City of Red Oak from the same properties in both the 2023 tax year and the 2024 tax year.
The voter-approval rate is the highest tax rate Red Oak may adopt without holding an election to seek voter approval of the rate, unless the de minimis rate for City of Red Oak exceeds the voter-approval rate for City of Red Oak.
The de minimis rate is the rate equal to the sum of the no-new-revenue maintenance and operations rate for City of Red Oak, the rate that will raise $500,000, and the current debt rate for City of Red Oak. The proposed tax rate is greater than the no-new-revenue tax rate.
This means that City of Red Oak is proposing to increase property taxes for the 2024 tax year.
The proposed tax rate is greater than the voter-approval tax rate but not greater than the de minimis rate and does not exceed the rate that allows voters to petition for an election under Section 26.075, Tax Code.
OVILLA’S PROPOSED TAX RATE PUBLIC HEARING WAS HELD ON AUG. 26
A tax rate of $0.626213 per $100 valuation has been proposed by the governing body of City of Ovilla.
Proposed Tax Rate: $0.626213 per $100
No-New-Revenue Tax Rate: $0.568629 per $100
Voter-Approval Tax Rate: $0.619076 per $100
De Minimis Rate: $0.695294 per $100
The no-new-revenue tax rate is the tax rate for the 2024 tax year that will raise the same amount of property tax revenue for City of Ovilla from the same properties in both the 2023 tax year and the 2024 tax year.
Voter-approval rate is the highest tax rate that City of Ovilla may adopt without holding an election to seek voter approval of the rate, unless the de minimis rate for City of Ovilla exceeds the voter-approval ratefor City of Ovilla.
The de minimis rate is the rate equal to the sum of the no-new-revenue maintenance and operations rate for City of Ovilla, the rate that will raise $500,000, and the current debt rate for City of Ovilla.
The proposed tax rate is greater than the no-new-revenue tax rate. This means that City of Ovilla is proposing to increase property taxes for the 2024 tax year. The proposed tax rate is greater than the voter-approval tax rate but not greater than the de minimis rate and does not exceed the rate that allows voters to petition for an election under Section 26.075, Tax Code
Ennis proposed a tax rate of $0.664000 per $100 valuation for 2025, which is a no-new-revenue rate. This rate will raise the same amount of property tax revenue from the same properties as in 2023. The city also has a voter-approval rate of $0.681658 per $100, which is the highest rate that the city can adopt without holding an election.
FERRIS’S PUBLIC HEARING ON ITS PROPOSED TAX RATE WILL BE HELD SEPT. 10, 2024
A tax rate of $0.534800 per $100 valuation has been proposed by the governing body of City of Ferris.
Proposed Tax Rate: $0.534800 per $100
No-New-Revenue Tax Rate: $0.480003 per $100
Voter-Approval Tax Rate: $0.535052 per $100
The no-new-revenue tax rate is the tax rate for the 2024 tax year that will raise the same amount of property tax revenue for City of Ferris from the same properties in both the 2023 tax year and the 2024 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 2024 tax year.