Notice of Public Hearing on Tax Increase
The
GAINESVILLE CITY
will hold two public hearings on a proposal to increase total tax revenues from properties on the tax roll in the preceding tax year by 8.73144 percent (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 on August 28, 2018 at 6:30 PM at City Hall, 200 South Rusk, Gainesville, Texas.
The second public hearing will be held on September 4, 2018 at 6:30 PM at City Hall. 200 South Rusk, Gainesville, Texas.
The members of the governing body voted on the proposal to consider the tax increase as follows:
FOR: Jim Goldsworthy, Carolyn Hendricks, Steve Gordon, Keith Clegg, Ken Keeler, Mary Jo Dollar, Tommy Moore
AGAINST: None
PRESENT and not voting: None
ABSENT: None
The average taxable value of a residence homestead in GAINESVILLE CITY last year was $99,303. Based on last year’s tax rate of $0.72254 per $100 of taxable value, the amount of taxes imposed last year on the average home was $717.50.
The average taxable value of a residence homestead in GAINESVILLE CITY this year is $105,986. If the governing body adopts the effective tax rate for this year of $0.664518 per $100 of taxable value, the amount of taxes imposed this year on the average home would be $704.30.
If the governing body adopts the proposed tax rate of $0.72254 per $100 of taxable value, the amount of taxes imposed this year on the average home would be $765.79.
Members of the public are encouraged to attend the hearings and express their views.