The City of Lampasas will hold 2 public hearings on a proposal to increase total tax revenues from properties on the tax roll in the preceding tax year by 0.81% (percentage by which proposed tax rate exceeds lower of rollback tax rate or effective tax calculated under Chapter 26, Tax Code). Your individual taxes may increase at a greater or lesser rate, or even decrease, depending on the change in the taxable value of your property in relation to the change in taxable value of all other property and the tax rate that is adopted.
The first public hearing will be held Monday, August 22 at 7pm at City Council Chambers, 408 S Main St.
The second public hearing will be held on Tuesday, September 6 at 5:30pm at City Council Chambers.
The members of the governing body who voted in favor of the proposal to consider the tax increase are Misti Talbert, Robert McCauley, TJ Monroe, Christian Toups, Mike White and Chuck Williamson. There were no members against and none present and not voting. Absent from the vote was Chris Harrison.
The average taxable value of a residence homestead in the City of Lampasas last year was $82,891. Based on last year’s tax rate of $0.395218 per $10 of taxable value, the amount of taxes imposed last year on the average home was $327.60.
The average taxable value of a residence homestead in the City of Lampasas this year is $85,635. If the governing body adopts the effective tax rate for this year of $0.392051 per $100 of taxable value, the amount of taxes imposed this year on the average home would be $335.73.
If they adopt the proposed tax rate of $0.395218 per $100 of taxable value, the amount of taxes imposed this year on the average home would be $338.44.
Members of the public are encouraged to attend the hearings and express their views.
Also on Monday’s agenda for the City Council is a public hearing regarding the City Manager’s proposed budget for the fiscal year 2016-2017 at 7pm.