Homeowners oppose property tax proposal

by | Sep 12, 2018 | Latest

Ten Wylie homeowners addressed City Council last week opposing the proposed 2018 property tax rate that was slated for a vote of approval Tuesday of this week, Sept. 11, along with the budget.

The comments were taken Tuesday, Sept. 4, during the second of two public hearings on the property tax rate.

Proposed this year is a rate of 73.5848 cents per $100 assessed valuation, which is 4.5 cents lower than last year and one penny more than the effective tax rate. The effective rate is the levy required to raise the same amount of property tax revenue as was generated in the prior year with the result being most existing taxpayers will not see an increase.

Last year, the city adopted the effective tax rate.

 

For the full story see the Sept. 12 issue or subscribe online.

 

By Joe Reavis • [email protected]

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