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FY 20 Property Tax Rate Adoption

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FY 20 Property Tax Rate Adoption

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FY 20 Property Tax Rate Adoption

  1. 1. Ad Valorem Tax Rate Adoption September 26, 2019
  2. 2. Proposed Property Tax Rate Current Rate Change Proposed FY20 Debt Service Fund 22.0339 0.1105 22.1444 General Fund 28.5502 2.7672 31.3174 50.5841 2.8777 53.4618 Effective Rate 49.5757 Rollback Rate 53.4618 *Rates above are stated cents per $100 assessed valuation
  3. 3. Tax Rate Adoption Required Actions • Adoption of the FY 2019-2020 tax rate ordinance • Must be adopted as two separate components • General Fund (M&O) 31.3174 • Debt Service (I&S) 22.1444 • Required adoption language is at your places
  4. 4. Estimated Total Tax Bill FY 20  Total tax bill composed of 3 parts – City, CSISD, Brazos County  Proposed Tax rates  2019 Total Tax Bill - $6,618.27  2020 Total Tax Bill - $6,361.12 $1,497.45 $3,470.18 $1,393.49 $0 $1,000 $2,000 $3,000 $4,000 $5,000 $6,000 $7,000 Tax Bill COCS CSISD Brazos County
  5. 5. Impact on a Single Family Home • Average Home Price in College Station = $280,098 • The City of Bryan’s Tax Rate will remain unchanged, but it is higher already than College Station’s by 9.5371 cents per $100 of assessed valuation • CSISD property tax rate will be decreasing, but the exact percentage has not yet been verified • Brazos County tax rate is an increase of $.0125 per $100 of assessed valuation to a proposed rate of $0.4975 Approved Tax Rate Effective Tax Rate Annual Increase (Decrease) Home Value 280,098 280,098 Less: Homestead Exemption (5%) (14,005) (14,005) Divided by 100 100 100 Base Home Value 2,661 2,661 - Tax Rate $ 0.534618 $ 0.495757 $ 0.038861 City Tax on Valuation $ 1,422.58 $ 1,319.18 $ 103.41 Percentage increase for FY20 7.84%

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