2023 Notice of Tax Rates
City of Temple adopted a tax rate that will raise more taxes for maintenance and operations than last year’s tax rate. The tax rate will effectively be raised by 3.41 percent and will raise taxes for maintenance and operations on a $100,000 home by approximately $8.80 per year.
Notice of Public Hearing on Tax IncreaseStatements 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).
A tax rate of $0.6130 per $100 valuation has been proposed by the governing body of CITY OF TEMPLE.
|PROPOSED TAX RATE||$0.6130 per $100|
|NO-NEW-REVENUE TAX RATE||$0.5456 per $100|
|VOTER-APPROVAL TAX RATE||$0.6272 per $100|
The no-new-revenue tax rate is the tax rate for the 2023 tax year that will raise the same amount of property tax revenue for CITY OF TEMPLE from the same properties in both the 2022 tax year and the 2023 tax year.
The voter-approval rate is the highest tax rate that CITY OF TEMPLE 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 TEMPLE is proposing to increase property taxes for the 2023 tax year.
A PUBLIC HEARING ON THE PROPOSED TAX RATE WILL BE HELD ON August 17, 2023 at 5:00 PM at City Council Chambers, 2 North Main Street, Temple, Texas.
The proposed tax rate is not greater than the voter-approval tax rate. As a result, CITY OF TEMPLE 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 Secretary's Office of CITY OF TEMPLE 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:||Mayor Timothy Davis, Mayor Pro Tem Jessica Walker, Councilmember Susan Long, and Councilmember Michael Pilkington|
|AGAINST the proposal:|
|PRESENT and not voting:|
|ABSENT:||Councilmember Zoe Grant|
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 TEMPLE last year to the taxes proposed to the be imposed on the average residence homestead by CITY OF TEMPLE this year.
|Total tax rate (per $100 of value)||$0.6130||$0.6130||No Change|
|Average homestead taxable value||$162,548||$184,896||13.75% increase|
|Tax on average homestead||$996||$1,133||13.75% increase|
|Total tax levy on all properties||$43,933,095||$50,938,518||15.95% increase|
For assistance with tax calculations, please contact the tax assessor for CITY OF TEMPLE at 254-939-5841 or email@example.com, or visit www.bellcad.org for more information.
nOTICE OF tAX INCREASEProperty Tax Rates in CITY OF TEMPLE
This notice concerns the 2023 property tax rates for CITY OF TEMPLE.
This notice provides information about two tax rates used in adopting the current tax year's tax rate. The no-new-revenue tax rate would Impose the same amount of taxes as last year if you compare properties taxed in both years. In most cases, the voter-approval tax rate is the highest tax rate a taxing unit can adopt without holding an election. In each case, these rates are calculated by dividing the total amount of taxes by the current taxable value with adjustments as required by state law. The rates are given per $100 of property value.
Taxing units preferring to list the rates can expand this section to include an explanation of how these tax rates were calculated.
This year's no-new-revenue tax rate ........................................... $0.545600 / $100
This year's voter-approval tax rate .............................................. $0.627200 / $100
To see the full calculations, please visit www.texas.gov/propertytaxes for a copy of the Tax Rate Calculation Worksheet.
UNENCUMBERED FUND BALANCES The following estimated balances will be left in the taxing unit's accounts at the end of the fiscal year. These balances are not encumbered by corresponding debt obligation.
|Type of Fund||Balance|
|Maintenance & Operation Tax Fund||$23,700,625|
|Interest & Sinking Fund||$374,717|
CURRENT YEAR DEBT SERVICE The following amounts are for long-term debts that are secured by property taxes. These amounts will be paid from upcoming property tax revenues (or additional sales tax revenues, if applicable).
|Description of Debt||Principal or Contract Payment to be Paid From Property Taxes||Interest to be Paid From Property Taxes||Other Amounts to be Paid||Total Payment|
|General Obligation Refunding Bonds, Series 2012||$800,000||$40,000||$750||$840,750|
|General Obligation Refunding Bonds, Series 2014||$1,580,000||$252,600||$750||$1,833,350|
|General Obligation Refunding & Improvement Bonds, Series 2015||$1,195,000||$1,008,700||$750||$2,204,450|
|General Obligation Refunding Bonds, Series 2016||$830,000||$256,700||$750||$1,087,450|
|General Obligation Refunding Bonds, Series 2017||$1,130,000||$709,750||$750||$1,840,500|
|General Obligation Refunding Bonds, Series 2020||$0||$12,045||$750||$12,795|
|Combination Tax & Revenue Cert of Obligations, Series 2012||$505,00||$172,132||$750||$677,882|
|Combination Tax & Revenue Cert of Obligations, Taxable Series 2012||$305,000||$99,395||$750||$405,145|
|Combination Tax & Revenue Cert of Obligations, Series 2014||$1,295,000||$482,663||$750||$1,778,413|
|Combination Tax & Revenue Cert of Obligations, Series 2016||$855,000||$726,450||$750||$1,582,200|
|Combination Tax & Revenue Cert of Obligations, Series 2017||$1,300,000||$966,057||$750||$2,266,807|
|Combination Tax & Revenue Cert of Obligations, Series 2019||$670,000||$379,200||$750||$1,049,950|
|Combination Tax & Revenue Cert of Obligations, Series 2020||$845,000||$365,400||$750||$1,211,150|
|Combination Tax & Revenue Cert of Obligations, Series 2021||$1,210,000||$1,479,519||$750||$2,690,269|
|Combination Tax & Revenue Cert of Obligations, Series 2022A||$1,095,000||$1,821,650||$750||$2,917,400|
|Combination Tax & Revenue Cert of Obligations, Series 2023A||$2,070,000||$2,058,598||$750||$4,129,348|
|Combination Tax & Revenue Cert of Obligations, Series 2023B||$0||$1,804,591||$750||$1,805,341|
|Limited Tax Notes, Series 2019||$175,000||$22,000||$750||$197,750|
|Limited Tax Notes, Series 2020||$385,000||$48,500||$750||$434,250|
|Limited Tax Notes, Series 2021||$410,000||$56,800||$750||$467,550|
|Limited Tax Notes, Series 2022||$330,000||$104,750||$750||$435,500|
|Limited Tax Notes, Series 2023||$428,571||$80,533||$750||$509,854|
Total Required for 2023 Debt Service: $30,378,104
- Amount (if any) paid from funds listed in unencumbered funds: $4,183,459
- Amount (if any) paid from other resources: $0
- Excess collections last year: $0
- = Total to be paid from taxes in 2023: $26,194,645
- + Amount added in anticipation that the taxing unit will collect only 100% of its taxes in 2023: $0
- Total Debt Levy: $26,194,645
This notice contains a summary of the no-new-revenue and voter-approval calculations as certified by Tammy Hubnik, Deputy Chief Appraises, 08-04-2023