NOTICE OF PUBLIC HEARING ON TAX INCREASE
A tax rate of .645817 per $100 valuation has been proposed by the governing body of City of Moody.
| PROPOSED TAX RATE NO-NEW REVENUE TAX RATE VOTER-APPROVAL TAX RATE | $0.645817 per $100 $0.621588 per $100 $0.645817 per $100 |
| DE MINIMIS RATE | $1.496182 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 Moody from the same properties in both the 2019 tax year and the 2020 tax year.
The voter-approval tax rate is the highest tax rate that City of Moody may adopt without holding an election to seek voter approval of the rate, unless the de minimis rate for City of Moody exceeds the voter-approval tax rate for City of Moody
The de minimis rate is the rate equal to the sum of the no-new-revenue maintenance and operations rate for City of Moody, the rate that will raise $500,000, and the current debt rate for City of Moody
The proposed tax rate is greater than the no-new-revenue tax rate. This means that City of Moody is proposing to increase property taxes for the 2020 tax year.
A public hearing on the proposed tax rate will be held on August 25, 2020 at 6:00 PM at Moody City Hall 606 Ave E Moody TX 76557.
The proposed tax rate is not greater than the voter-approval tax rate. As a result, City of Moody is not required to hold an election at which voter approval of the rate. However, you may express your support for or opposition to the proposed tax rate by contacting the members of the of City of Moody at their offices or by attending the public meeting mentioned above.
YOUR TAXES OWED UNDER ANY OF THE ABOVE RATES CAN BE CALCULATED AS FOLLOWS:
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:
| John Carpenter Jennifer Houghton | Josh Richter Karla Alton |
AGAINST:
PRESENT and not voting: Mayor Charleen Dowell
ABSENT:
Richard Moore
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 Moody last year to the taxes proposed to be imposed on the average residence homestead by City of Moody this year:
| 2019 | 2020 | Change | |
| Total Tax Rate (per $100 of value) | $0.684484 | $0.645817 | decrease of -$0.038667 OR -5.65% |
| Average homestead taxable value | $100,445 | $109,256 | increase of 8.77% |
| Tax on average homestead | $688 | $706 | increase of $18 OR 2.62% |
| Total tax levy on all properties | $351,204 | $370,220 | increase of $19,016 OR 5.41% |
For assistance with tax calculations, please contact the tax assessor for City of Moody at 254-757-5130 or property.tax@co.mclennan.tx.us, or visit www.co.mclennan.tx.us/tax for more information.