NOTICE OF PUBLIC HEARING ON TAX INCREASE
A tax rate of 0.571 per $100 valuation has been proposed by the governing body of City of Blue Mound.
PROPOSED TAX RATE $0.571 per $100
NO-NEW REVENUE TAX RATE $0.53418 per $100
VOTER-APPROVAL TAX RATE $0.638473 per $100
DE MINIMIS RATE $0.930251 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 Blue Mound from the same properties in both the 2019 tax year and the 2020 tax year.
The voter-approval tax rate is highest tax rate that City of Blue Mound may adopt without holding an election to seek voter approval of the rate, unless the de minimis rate for City of Blue Mound exceeds the voter-approval tax rate for City of Blue Mound.
The de minimis rate is the rate equal to the sum of the no-new-revenue maintenance and operations rate for City of Blue Mound, the rate that will raise $500,000, and the current debt rate for the City of Blue Mound.
The proposed tax rate is greater than the no-new-revenue tax rate. This means that City of Blue Mound is proposing to increase property taxes for the 2020 tax year.
A public hearing on the proposed tax rate will be held on September 08, 2020 at 6:30 pm at 301 S. Blue Mound Road, Blue Mound,
YOUR TAXES OWED UNDER ANY OF THE ABOVE RATES CAN BE CALCULATED AS
property tax amount=(tax rate) X (taxable value of your property)/100
The members of the governing body voted on the proposed tax increase as follows:
FOR: Pl 1 Hooks, Pl 2 Smith, Pl 3 Smith, Pl 4 Watson, Pl 5 Copeland
PRESENT and not voting: Mayor Hooks
The 86th Texas 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 Blue Mound last year to the taxes
Total Tax Rate (per $100 of value) 2019 $.0659 2020 $0.571 Change decrease $-0.0349 or 5.74%
Average homestead taxable value 2019 $105,805 2020 $111,760 increase 5.6%
Tax on average homestead 2019 $641 2020 $638 decrease $2.92 or .456%
Total tax levy on all properties 2019 $795,500 2020 $853,428 increase $55,916 7%
For assistance with tax calculations, please contact the City of Blue Mound (817) 232-0663 or
firstname.lastname@example.org for more information.